New Delhi, Oct. 7 -- Intangles, which runs a predictive artificial intelligence platform that helps auto companies and fleet operators, has raised $30 million (around Rs 266 crore) in its Series B round led by Avataar Venture Partners, along with follow-on investments from Baring India Private Equity and Cactus Partners.

The company plans to use the capital to accelerate global deployment of its predictive AI systems. It claims that it has created the world's first AI platform for vehicles called Inroute, using its proprietary datasets. It had raised its Series A in 2023, when it bagged $10 million from Baring.

Intangles noted that its digital twin technology warns fleet owners of impending vehicle failures with the exact causes, up to a month in advance, with ~95% accuracy. It claims that the technology delivers significant cost savings for customers and has built a sticky, high-margin global SaaS model.

It also claimed that the use of its tech platform helps fleet owners increase their net profitability by as much as 50% and drive a per-truck return on investment (ROI) of 5x. The company has onboarded clients across original equipment manufacturers (OEMs) and enterprise fleets, who can reduce their total cost of ownership and advance ESG goals through lower fuel consumption and reduced emissions.

Intangles has expanded its footprint to North America, Europe, Southeast Asia, and the Middle East. It supports a diverse range of fuel types and complex operational requirements. The company claims that today, it manages over 400,000 vehicles across industries such as long haul, transit, construction, and mining segments.

Its key clients include some of the largest OEMs and fleet owners globally. In all, Intangles claims to have helped save maintenance costs of up to $10,000 annually per vehicle across all its clients.

"We are building physics-based foundational AI architecture that interprets real-world physical systems, learns as conditions evolve, and delivers foresight where it has the greatest operational consequence," said Anup Patil, co-founder and chief executive officer of Intangles.

"This investment strengthens our ability to expand that architecture across geographies and industries that are grappling with increasing volatility and complexity," he added.

Deloitte Thomatsu was the banker for this round and helped raise the financing for Intangles.

Published by HT Digital Content Services with permission from VC Circle.