[Funding News] DeepMatrix Secures $1.6 Mn Funding Round

DeepMatrix, a deep tech startup, has secured $1.6 million in a funding round that was spearheaded by YourNest and Arali Ventures.

The funds will be allocated to the following objectives: enhancing its product offerings in mining and asset management, expanding its presence in critical markets like the United States and Australia, and accelerating growth.

Angel investors, such as Abhishek Goyal, the proprietor of data intelligence platform tracxn, also participated in the round.

Read also - 99 Pancakes Secures Rs 20 Cr Funding Round

The startup assists businesses in the administration of all geospatial data, thereby allowing them to optimize resource management, enhance safety, and reduce costs.

The platform asserts that it has already saved businesses thousands of hours by expediting the analysis of large geospatial datasets.

About DeepMatrix

Founded in 2022 by Naresh Soni and Kaustubh Tripathy, DeepMatrix is a deep-tech startup transforming the utilization of geospatial data. With its cloud-native SaaS platform and AI-driven business model, the company offers comprehensive capabilities across the entire data life cycle, encompassing data ingestion through to advanced analytics.

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