SwitchOn, the AI-based startup helping Indian manufacturers reduce defects, raises $4.2 million
SwitchOn, a Bangalore-based AI startup that helps manufacturing companies detect and eradicate product faults, has raised $4.2 million in a funding round led by a Singapore-based fund along with Axilor Ventures, pi Ventures, and prominent angels. The company’s one-of-a-kind field-trainable AI system automates quality inspection, reducing manufacturing defects and cutting costs.
SwitchOn was founded in 2017 by Aniruddha Banerjee, ex-Nvidia and Samsung, and Avra Banerjee, ex-Schneider and Indus. The company’s AI-powered DeepInspect System performed a thorough inspection of their clients’ high-speed bottling operations within three weeks, after seeing that their clients were producing bottles at a high rate of more than 350 parts per minute, making it impossible to manually examine each bottle. By using the DeepInspect system, SwitchOn helped its clients detect any dirt in empty bottles, which can result in over 6 per cent of production problems in high-speed lines. Through one-click configuration software, customers may set up the hardware and software, giving them the flexibility to check over 10 SKUs on the fly at more than 350 pieces per minute.
The recent investment will allow SwitchOn to continue its rapid growth in India, scale internationally with large enterprises, make key hires in sales and technology, and invest in research and development, according to Aniruddha Banerjee. SwitchOn has global manufacturers as its clients, including SKF, ITC, and Unilever. The company had a revenue of Rs 2 crore in the last financial year and aims to grow it 10x in the next financial year.
“Even after putting in so much effort, the defective product still reaches to end customer,” said Aniruddha Banerjee. “Our AI-powered DeepInspect System can help customers to do a thorough inspection of empty and filled bottles after it has been configured. This impacted the companies to get zero customer complaints about the goods produced at their facility. Moreover, it improved wholesale margins, and the cost of quality was cut by nearly 80 per cent as a result of lower manual inspection costs and regulatory compliance liabilities.”
The manufacturing sector in India is growing rapidly. In March 2023, the S&P Global India Manufacturing PMI increased to 56.4, a three-month high, above market expectations of 55.0. The speed of growth in new orders was at 3-month highs, and output increased at a rate that was faster than its long-term average and the fastest since last December. Additionally, export sales increased more quickly than purchases, which increased the highest since May 2022. By 2030, India may export goods worth US$ 1 trillion, making it the third most sought-after destination for manufacturing in the world.
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