Mantra Softech Secures $14M Share in AI-Powered Expansion

Mantra Softech, an Indian deep-tech company, has raised $14 million in its first institutional round. The investment will enhance R&D and AI-driven technology. Mantra's biometric and security systems are widely used across sectors like aviation and defence, with expansions set for international markets, especially the Middle East.

India-based Mantra Softech has successfully secured USD 14 million in a recent funding round led by India SME Fund II, with significant participation from Motilal Oswal Principal Investments. The financing marks the company's first institutional investment, aimed at driving its research and development initiatives.

The infusion of capital will propel Mantra Softech's commitment to expanding its intellectual property assets and spearheading advancements in AI-powered computer vision and security technologies. Co-Founder Hiren Bhandari emphasized the investment as a pivotal move in the company's strategy to build globally competitive technology from within India.

Specializing in biometric devices and AI-driven identity platforms, Mantra Softech's solutions have gained traction across diverse sectors including aviation, defence, and financial services. The company plans to broaden its presence in international markets, notably the Middle East, as noted by Co-Founder Bhavyen Bhandari.

(With inputs from agencies.)