AI based startup Parallel Dots has raised $4.5 million in its series A funding round from Btomorrow Ventures.
Existing investor Multipoint Capital also participated in this round.
The startup plans to use the funds to accelerate its product development roadmap and drive global expansion.
It will also use capital to fund product innovations that bring ingenuity, leverage emerging technology, and the power of artificial intelligence to help CPG manufacturers grow and better navigate digital disruption.
It aims to invest in new talent and expand its team across verticals. The Gurugrambased Parallel Dots was founded in 2017 by Angam Parashar, Ankit Narayan Singh and Muktabh Mayank Srivastava, It is an image recognition platform that empowers FMCG companies to maximize their sales through in-store execution.
About Parallel Dots
ParallelDots is a leading image recognition solution provider for FMCG companies and retailers globally, helping them optimize their in-store execution and maximize their sales.
ParallelDots has a proven model to deliver higher ROI than other retail Image Recognition solutions owing to its superior technology that is fast to set up and affordable to scale.