Deeptech startup NeuroPixel.AI raises fresh funds from Flipkart Ventures

• ByStartupStory     |    September 13, 2022

Soon to be launched deeptech startup NeuroPixel.AI based in Bangalore has raised fresh capital from Walmart-owned Flipkart in the ongoing seed round of funding. 

According to a regulatory filing made with the Registrar of Companies (RoC), the board of NeuroPixel.AI has approved the special resolution to issue 876 CCPS at an issue price of Rs 27,204 per share in order to raise Rs 2.28 crore.

In September 2021, the company had raised $825K in a seed round of funding that was  led by Inflection Point Ventures and participation was seen by Entrepreneur First, Huddle, Dexter Angels, and Rishaad Currimjee. NeuroPixel.AI was also a part of ISB D-Labs incubator and Huddle accelerator.Now,following the fresh infusion, Flipkart India will hold 5.15% of the stake in the business.

What’s interesting to know is that another special resolution has been approved by NeuroPixel.AI to establish an employee stock option (ESOP) pool with 1,250 options valued at Rs 3.4 crore.

 In the fiscal year ending March last year NeuroPixel.AI was a pre revenue stage company in accordance to its annual financial statement with the RoC, it had no operating revenue in FY21 with losses of Rs 12 lakh.

About NeuroPixel.AI

Founded in 2020 by Arvind Nair (CEO) and Amritendu Mukherjee (CTO), NeuroPixel.AI works in the application of advanced AI/ML and statistical learning theory in computer vision and image processing areas for online stores. The company allows AI-powered fashion cataloguing, synthetic model generation, and high fidelity virtual try-ons for e-commerce companies. 

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