DATOMS Secures Rs 25 Crore in Series A Funding for Industrial IoT Expansion
DATOMS, an Indian industrial deeptech IoT startup, has successfully raised Rs 25 crore (approximately $2.76 million) in a Series A funding round, primarily led by Big Capital JSC. This funding round also attracted investment from IvyCap Ventures, along with follow-on funding from YourNest Venture Capital. Startup Superb had previously reported on this funding round this month. In October 2023, the startup had raised $1.2 million, also led by YourNest VC.
Funding Impact and Future Plans
According to estimates from Startup Superb, DATOMS’s valuation is projected to reach approximately Rs 110 crore ($12.18 million) post-money. The capital raised will be directed towards enhancing product development and technology, entering new markets, and expanding the workforce in engineering, data science, and enterprise sales. Additionally, the company aims to bolster its AI-driven capabilities in predictive maintenance and energy management.
Company Overview
Founded in 2021 by a team that includes Amiya Samantaray, Asish Sahoo, Nataraj Sahoo, and Amrit Biswal, DATOMS has developed an industrial IoT platform that connects physical machines, transforming them into trackable assets throughout their lifecycle. This platform allows enterprises and original equipment manufacturers (OEMs) to monitor performance in real-time, anticipate failures, optimise energy consumption, and manage service operations effectively.
Current Operations and Future Goals
Currently, DATOMS monitors over 25,000 machines across a variety of sectors such as logistics, healthcare, manufacturing, cement, steel, and mining. The company has ambitions to scale this number to 1 lakh machines within the next year. Operating out of Bhubaneswar and Bengaluru, DATOMS serves more than 100 customers globally.
Financial Performance
For the fiscal year ending March 2025 (FY25), DATOMS reported operating revenue of Rs 5.57 crore, marking an increase from Rs 3.09 crore in FY24. However, the company’s losses widened to Rs 5.82 crore in FY25, up from Rs 4.38 crore in the previous fiscal year.