PLUTOMEN RAISES FUNDING OF $300 K FROM INVESTORS

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Plutomen, an Augmented Reality (AR) based self-assistance and remote collaboration platform, today announced that it has raised funding of $ 300 k from GUSEC Seed Fund, DeVX venture Fund, and Industry-Tech focussed HNIs. The funding is a mix of equity & CCD. The funding will be deployed to build the sales & marketing team and also to extend the product team.

With experience of more than 7 years in XR (eXtended Reality – AR/VR/MR) and servicing & consulting Industrial Enterprises, Plutomen decided to work on creating solutions which empower enterprises to improve productivity, extend workforce capability, & enhance customer satisfaction. Plutomen was the finalist in Industry 4.0 (Augmented Reality) category at National Startup Awards 2020 and in Dec 2020, bagged the prestigious Manufacturing Innovation Challenge Edition 2 Award for “Real Time Quality Inspection using Augmented Reality”.

Speaking on the funding, Mr Keyur Bhalavat, Founder – Plutomen, said, “We are excited about the funding and will deploy it to further augment our sales, marketing and product teams. The product, Plutomen ARMS, is an XR (extended reality) enabled Self assistance & Remote collaboration solution that empowers enterprises & their MRO + field service teams to remotely troubleshoot, inspect, maintain complicated machineries & systems. The Funding enables us to further grow and develop the product with a broader scope of applications”.

Mr Rahul Bhagchandani, Group CEO of GUSEC said, “At GUSEC, we are excited to participate in this round of Plutomen’s funding through DST’s NIDHI SSS (Seed Support Scheme). The company and their founders’ deep understanding and appreciation of the industry issues coupled with phenomenal technology capability are helping them offer XR solutions that are truly cutting-edge and will help Indian enterprises compete better on the global scene.”

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Putting this in perspective, Mr Umesh Uttamchandani, Co-Founder DevX said, “We have known Plutomen as a co-worker company that made its way to JioGenNext Accelerator. We trust the capabilities of Keyur Bhalavat, Founder & CEO at Plutomen. His previous venture Oryden Techlabs was acquired by Square Yards. Plutomen has spent years developing their product and it’s now their redemption time to rapidly scale riding on the back of their core product ARMS.”

With Pandemic restricting the travel & movements of MRO & Field Service, business enterprises are finding difficulty in their core domains like installation, inspection, troubleshooting & maintenance. Plutomen foresaw the increase in the use cases of AR & MR based Remote Collaboration.  Their Enterprise SaaS platform ARMS allows AR/MR based remote intervention in real-time. The solution is built with MRO & front line workers as the centre point. It is focused on OEMs and Utility driven industries like Heavy Engineering, manufacturing, automotive, Telecom, Oil & Gas, Power & Renewables, etc… The ARMS platform enables remote intervention for maintenance, inspection, problem identification, trouble-shooting, on-the-job training etc.