Industrial AI startup Detech Technologies has raised $12 million in funding led by Accel Partners with significant participation from existing investor Elevation Capital.
Existing investors, including Bharat Innovation Fund, BlueHill Capital, and Axilor Ventures, also participated in the round, while Stride Ventures was the venture debt partner.
In a statement, Detect Technologies will use the investment to enhance industrial productivity globally and strengthen its leadership in accelerating the digitisation of the industrial sector. The startup said it will also use a portion of the funds for R&D and product innovation.
