Business

AI start-up ThinCI raises $65 million

ThinCI Inc., a California-based artificial intelligence hardware start-up with offices in Hyderabad and the U.K., announced the successful closure of its $65 million Series C round. The investment round was led by returning investor Denso and its subsidiary Nsitexe Inc., and Temasek.

The company said it aimed to expand the current team of 110 people in India to more than 350 in the country, by hiring talent for their engineering and customer operations groups.

“India [is] a prime market to expand and explore,” said ThinCI CEO Dinakar Munagala.

The company which enables AI in autonomous vehicles, consumer devices to industrial robots said it is actively hiring from premium Indian engineering institutions and is also visiting top business schools for recruitment this year. Across hardware and software, the firm is looking to hire talent with the ability to build efficient and scalable AI technology systems. A recent study conducted by Gartner highlights that AI will create 2.3 million jobs worldwide by 2020 out of which a significant share will be generated in India alone, said ThinCI.

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Printable version | Jul 13, 2020 11:37:00 PM | https://www.thehindu.com/business/ai-start-up-thinci-raises-65-million/article24875900.ece

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