Chennai: The Chennai Angels (TCA) has invested Rs 3 cr in Jidoka, a company involved in automation of visual defects and audio testing, based out of Chennai.
A follow-on investment of Rs 3 crores has also been committed for a second tranche, later this year.
Jidoka specialises in automating the detection of visual defects and audio testing – processes that are highly subjective by nature across industries such as automotive and packaging. After establishing a Product-Market Fit in India across industries, Jidoka will invest funds to enhance their product for international markets and grow to N America and subsequently to Europe.
Sekar Udayamurthy, Co-Founder-CEO, Jidoka Technologies said, “We have been approaching multiple VCs over the last quarter. Rather than it being Q&A grilling sessions, TCA have been a partner in our journey of fund raising. They not only helped us position ourselves better with Angel investors but are also starting to help us structure our forward-looking business plan and help us with challenges that we will see in the next stage of growth of the company."
“Pursuit of excellence in manufacturing quality, that sets world standards, is the chosen path of many young manufacturing leaders in India. Krishna Iyengar, Vinodh Venkatesh and Sekar Udayamurthy believe automated process rigour with deep tech product inspection alone can deliver safe and secure products to consumers, be it a tablet of medicine or a component in an electric vehicle. A belief that TCA are aligned with,” said Lakshmi Narayanan, ex-vice chairman and ex-CEO of Cognizant and Chairman of ICT Academy.