Infopine Consultancy Services Pvt. Ltd., a software product company headquartered at Mysore, India has raised an undisclosed amount of funding recently from an investor owing to its exponential growth. The announcement was made by Infopine Co-founder & CEO, Kumar Piyush.
L to R: Mahaveer K, Co-founder & CTO, Kumar Piyush, Co-founder & CEO, Manu V, Co-founder & COO
Every industry is presented with an array of challenges. Today, every challenge can be resolved by developing & using the right technology. Infopine with its technological innovation and proven delivery methods drives the best value for its clients by reducing the efforts and costs, minimizing risks and generating a high ROI.
The flagship product of Infopine is iTexClouds. iTexClouds is an ERP product curated for textile manufacturers. When it comes to managing business end to end, it is increasingly difficult for textile manufacturers since the process is lengthy and requires attention to detail. iTexClouds has incorporated best practices in the industry with all the modules and functionalities required by a textile manufacturer. It also has 100 plus reports for key stakeholders’ decision makers to take informed decisions.
Additionally, Infopine is also engaged with research & development on a product that will change the fate of the textile industry. This product under R&D addresses the textile defect detection problem using an Artificial Intelligence, Machine-Learning and Computer Vision approach. The product identifies a defect of any type, immediately recognizes the type of defect which in return will record the defect parameters, which can also be shared with customers through a web portal. Manual defect detection done by experts becomes quickly an overwhelming and fastidious task. Therefore, having efficient and automatic inspection systems at hand is a major requirement for improving reliability and speeding up the quality control which will increase productivity, reduce cost and boost customer satisfaction. The product is getting improvised with better accuracy on an everyday basis and may hit the market soon.
Infopine is also working as an implementation services partner with Unilog for their product. Unilog is a global e-commerce and product data management giant in the B2B marketplace Headquartered in greater Philadelphia, US. It helps distributors, manufacturers, and wholesalers boost online sales, reduce costs and enhance their digital channels.
Infopine’s growth is stellar. Their revenue has grown by more than 35% every year. With this funding, they are looking forward to multiply the growth in terms of ARR every year and target high valuation in short span of time. They intend to utilize these funds to support their growth & expansion both horizontally & vertically. They are looking to utilize the fund in three core focus areas:
First, the team intends to scale up the ERP product iTexClouds by bringing more intelligence, introducing recent trending technologies with the funding. Infopine is also ramping up its team to become aggressive in terms of sales, faster delivery and quicker implementation. The funds will be put to use to expand iTexClouds horizon to other geographies in India and abroad.
Second, the company will also utilize the funds to speed up the R&D of its AI-ML and computer vision technology based “Defect Detection System” product and get the beta version out. Further to introduce the final product to Indian and abroad market.
Third, Infopine aspires to grow its partnership with Unilog as its implementation services partner. The funds are being planned to utilized by investing in building up strong team through aggressive talent acquisition towards strengthening this partnership.
The Founders of Infopine Kumar Piyush, Manu V and Mahaveer K have envisioned to make Infopine one of the top ERP solution providers across the globe across all the verticals which has capability to address all the pain points for its customers and allow a seamless experience in business operating procedures. The Founders are also confident of capturing maximum market share in textile manufacturing industry using iTexClouds ERP and “Defect Detection System” by leveraging best practices and solving the real pain in the industry.
Currently their customer base spans across Maharashtra, Tamil Nadu, Karnataka with an entry into other states like Gujarat, Punjab, Rajasthan etc. They plan to venture into other textile hub countries like Bangladesh, Vietnam, Germany etc. in the future. We are excited to see what unfolds for Infopine in the coming few years.