Deeptech IoT Startup Datoms Bags Funding To Offer Connected Machines To OEMs
Deeptech IoT Startup Datoms Bags Funding To Offer Connected Machines To OEMs
Datoms, a deeptech IoT startup that offers connected machines to OEMs, has secured $1.2 million in funding led by Yournest Venture Capital. The startup plans to use the funds to strengthen its product offerings, build various use cases in the construction and warehousing industries, and enhance its in-house AI/ML capabilities and market expansion across India and the Middle East.
Datoms was founded in 2021 by Amiya Samantaray, Nataraj Sahoo, Amrit Biswal, and Asish Sahoo. The startup provides OEMs with a connected operations cloud that brings together people, processes, and machine operations onto a unified platform. This platform helps OEMs to improve efficiency, reduce costs, and enhance customer satisfaction.
Datoms’ platform is used by a variety of OEMs in the construction, warehousing, agriculture, mining, and ports sectors. The startup’s clients include Tata Steel, ONGC, ABB, and Dalmia Bharat Cement.
The global connected machine market is expected to grow from $134.5 billion in 2022 to $248.4 billion by 2027, at a CAGR of 15.2%. The growth of the market is being driven by the increasing adoption of IoT technologies by businesses across all industries.
Datoms is well-positioned to capitalize on the growth of the connected machine market. The startup has a strong team with deep expertise in the IoT and manufacturing domains. Datoms also has a growing list of clients and a strong product offering.
The investment from Yournest Venture Capital is a validation of Datoms’ potential. Yournest Venture Capital is a leading venture capital firm in India that invests in early-stage technology startups.
Here are some of the benefits of Datoms’ connected operations cloud for OEMs:
- Improved efficiency: Datoms’ platform helps OEMs to improve efficiency by automating and streamlining their operations. This can free up employees to focus on more strategic tasks.
- Reduced costs: Datoms’ platform can help OEMs to reduce costs by optimizing their supply chain and inventory management.
- Enhanced customer satisfaction: Datoms’ platform can help OEMs to improve customer satisfaction by providing real-time visibility into their operations and enabling them to respond to customer needs more quickly.
Overall, Datoms is a promising deeptech IoT startup that offers a valuable solution to OEMs. The company’s recent funding round will help it to accelerate its growth and expand its reach into new markets.
Here are some of the specific ways in which Datoms is using its funding to grow its business:
- Strengthening its product offerings: Datoms is using its funding to strengthen its product offerings by developing new features and use cases.
- Building various use cases in the construction and warehousing industries: Datoms is focusing on building various use cases in the construction and warehousing industries, as these are two of the largest markets for connected machines.
- Enhancing its in-house AI/ML capabilities: Datoms is using its funding to enhance its in-house AI/ML capabilities. This will allow it to develop more intelligent and predictive solutions for its clients.
- Expanding its market reach: Datoms is using its funding to expand its market reach into new markets, such as the Middle East.
Datoms is a startup to watch in the deeptech IoT space. The company has a strong team, a growing list of clients, and a valuable solution for OEMs. With its recent funding round, Datoms is well-positioned to accelerate its growth and become a major player in the connected machine market.
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