Image analysis startup – ImageProVision Technology, based out of Pune, has raised an undisclosed amount of funding in its seed funding round from Satish Jamdar, former MD of Blue Star.
The new funding raised by the company will be used to further strengthen their presence within the pharma sector. It also plans to get more clients, as well as entering other sectors like biotechnology and medical imaging.
Founded by Sandeep Kulkarni and Prithviraj Jadhav, ImageProVision makes products that enable companies to extract and analyse data drawn from images. The company counts nine out of India’s top 10 pharma companies among its clients.
While primarily catering to the pharma sector, the company also cater to a wide range of industries including pharmaceuticals, medical sciences, life sciences, agriculture, defence etc.
Its product for pharmaceutical industry -“ipvPClass”, is a microscopy Particle Size Analyser & Classifier. Its clientele for the same includes Dr. Reddy’s, Lupin, Glenmark, Zydus Cadila, Amneal etc.
It works with various kinds of images, from nano to satellite images, and has a dominant position in microscopic image analysis. The input image is processed, analysed and interpreted using company’s own algorithms. Based on that, the analytics and reports are generated. It also renders precision services toward video processing, 3D imaging and industrial vision processing.
The company’s vision is to be a progressive leader in the field of image processing and analysis, and to dramatically improve the way in which various services requiring these skills are delivered across the globe.
As per the company’s founder Sandeep Kulkarni, the company has been profitable from the start. The further said that the company has been growing at a healthy rate in the last two years.
Satish Jamdar, who invested in the current round, said,
I respect what they want to do and I want to help them make this work. They have found a good business proposition and I will be here to mentor and guide them on their way ahead.