Mantra Group, a leading deeptech company specialising in providing security solutions and access-control products, has raised ₹125 crore ($14 million) in its first institutional fundraising round led by India SME Fund II along with participation from Motilal Oswal Principal Investments.
IC RegFin Legal advised lead investor India SME Fund II on this fundraise.
The transaction team consisted of Puneet Shah (Partner), Abhinav Gupta (Senior Associate), and Associates Daksh Dave, Abhishek Singh and Nishigandha Bhadange.
Established in 2006, Mantra Group specializes in developing biometric sensors, RFID products, access control systems, and other computer vision and AI-based devices, supported by an R&D team that has secured multiple U.S. patents.
Mantra Group plans to establish a Center of Excellence for AI and Computer Vision while scaling its Department of Scientific and Industrial Research (DSIR) approved R&D capabilities to accelerate product development and introduce innovative solutions across domestic and international markets.
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