Mantra Investment
Mantra Group, India’s largest deeptech company specialising in Identity, Security, Computer Vision and AI solutions, today announced it has raised USD 14 million in its first institutional funding round. The investment was led by India SME Fund II with participation from Motilal Oswal Principal Investments.
“This landmark investment will fuel our next phase of innovation and expansion,” said Hiren Bhandari, Co-Founder, Mantra Group. “We are doubling down on R&D, patents and IP creation, establishing a Center of Excellence for AI & Computer Vision, and scaling our DSIR-approved R&D while accelerating new product development. With products live in 50+ countries and a majority market share in India, our goal is clear: to make cutting-edge technology – designed and built in India – available to customers worldwide”, he added.
“From air transit-through initiatives like employee access systems and DigiYatra-to Defence ID management programs, and with over 20 of India’s top 100 corporates using our enterprise stack for workforce management and access control, our footprint is well established. We are now expanding these solutions to more airports across India and internationally, while scaling enterprise deployments throughout the Middle East” – Bhavyen Bhandari, Co-Founder, Mantra Group
Investor Perspectives
“We are excited to partner with Mantra Softech-a true innovator and Make in India leader in biometric solutions. Their heritage in National ID programs and security solutions deployments, coupled with their technology leadership, positions them strongly for global scale. Our capital and partnership approach will further empower their growth and product innovation’,” said Mitin Jain, Founder and Managing Director, India SME.
Ambit Private Limited was the exclusive financial advisor for this transaction.
Mantra Softech
Shapath Hexa, S.G Highway, Ahmedabad, Gujarat
+917949068001
Founded in 2006, Mantra Group delivers solutions in Identity and Security through its array of biometric sensors, RFID products, access control devices and other computing devices using computer vision, AI, and IoT. Its entire product portfolio is built by its in-house R&D team, which has various US patents and other IP portfolio. It is the only Indian company to have STQC and FBI certified biometric sensors. The group also operates an integrated EMS, ODM and IDH ecosystem. , Mantra serves mission-critical applications in more than 50 countries-with expansion underway across the USA, Latin America, Africa, South-East Asia and the Middle East. The company’s products are used globally across various programs like National ID, Election ID, border control, visa issuance
This release was published on openPR.
