ShareChat founders raised $3 million in funding for industrial robotics startup
ShareChat founders Farid Ahsan and Bhanu Pratap Singh secured $3 million in a seed funding round, primarily led by India Quotient and Elevation Capital. This funding is allocated for their latest venture, General Autonomy, a startup focused on industrial robotics. The company aims to develop AI-powered machines designed to automate specific aspects of labor workflows within factory environments.
Ahsan utilized X, formerly known as Twitter, to share the announcement. The ex-chief operating officer (COO) of ShareChat conveyed that General Autonomy, their new venture, aims to "transform the future of factories". Ahsan emphasized the complexity of factories, portraying automation as the solution for a comprehensive understanding, leading to safer, more efficient, and standardized production. He expressed the vision of making mass manufacturing as agile and distributed as software development, with operations based in Bengaluru but having a global impact.
The funding round also saw participation from angel investors, including Zetwerk co-founder Srinath Ramakkrushnan, Livspace co-founder Ramakant Sharma, and ShareChat founder Ankush Sachdeva. In January, both Ahsan and Singh, who served as the chief technology officer at ShareChat, stepped down from their active roles at the vernacular social media platform. These moves coincided with ShareChat's strategic downsizing efforts, including staff layoffs amounting to approximately 20% or 500 employees. In a parallel development within the industrial robotics sector, Ati Motors, a manufacturer of autonomous industrial robots, secured $10.85 million in July, led by True Ventures.
Ahsan utilized X, formerly known as Twitter, to share the announcement. The ex-chief operating officer (COO) of ShareChat conveyed that General Autonomy, their new venture, aims to "transform the future of factories". Ahsan emphasized the complexity of factories, portraying automation as the solution for a comprehensive understanding, leading to safer, more efficient, and standardized production. He expressed the vision of making mass manufacturing as agile and distributed as software development, with operations based in Bengaluru but having a global impact.
The funding round also saw participation from angel investors, including Zetwerk co-founder Srinath Ramakkrushnan, Livspace co-founder Ramakant Sharma, and ShareChat founder Ankush Sachdeva. In January, both Ahsan and Singh, who served as the chief technology officer at ShareChat, stepped down from their active roles at the vernacular social media platform. These moves coincided with ShareChat's strategic downsizing efforts, including staff layoffs amounting to approximately 20% or 500 employees. In a parallel development within the industrial robotics sector, Ati Motors, a manufacturer of autonomous industrial robots, secured $10.85 million in July, led by True Ventures.