Industrial Internet of Things (IIoT) startup Syook has raised an undisclosed amount in funding from Inflection Point Ventures, an investment initiative floated by a group of chief financial officers and finance professionals from India’s startup ecosystem.
Operated by Sparkyo Technology Pvt. Ltd, Syook said in a statement that it will use the fresh capital to scale up its operations in India, apart from expanding to the Southeast Asian market.
“We’re really excited to partner with IPV as we continue to make inroads into digital operations management with our full-stack industrial IoT product, Syook InSite,” said the startup’s co-founder Arun Nagarajan.
Founded in 2016 by Nagarajan, Saurabh Sharma and Aman Agarwal, Syook uses its platform to provide real-time micro-locations for people and other important assets in sectors such as defence, automobile, healthcare, manufacturing and education.
Agarwal, who is the company’s chief technology officer, said the system was a highly configurable one that would cater to several use cases.
“We use machine learning to give our customers a competitive advantage when it comes to optimising operations,” he added.
By Narinder Kapur, VCCIRCLE