SwitchOn, an AI startup based in Bangalore, is transforming the manufacturing industry in India with its unique AI-based quality inspection system. The startup recently raised $4.2 million in a funding round led by a Singapore-based fund along with Axilor Ventures, pi Ventures, and prominent angels. This investment will enable SwitchOn to continue its rapid growth in India, scale internationally with large enterprises, make key hires in sales and technology, and invest in research and development.
Founded in 2017 by Aniruddha Banerjee and Avra Banerjee, SwitchOn offers a field-trainable AI system that automates quality inspection, reduces manufacturing defects, and cuts costs. The company's AI-powered DeepInspect System can perform a thorough inspection of high-speed bottling operations within three weeks. This is especially significant as clients were producing bottles at a high rate of more than 350 parts per minute, making it impossible to manually examine each bottle. By using the DeepInspect system, SwitchOn helped its clients detect any dirt in empty bottles, which can result in over 6 per cent of production problems in high-speed lines.
Through one-click configuration software, customers can set up the hardware and software, giving them the flexibility to check over 10 SKUs on the fly at more than 350 pieces per minute. This has helped manufacturers improve product quality and reduce the cost of quality by nearly 80 per cent, resulting in lower manual inspection costs and regulatory compliance liabilities.
SwitchOn has global manufacturers as its clients, including SKF, ITC, and Unilever. The company had a revenue of Rs 2 crore in the last financial year and aims to grow it 10x in the next financial year.
The manufacturing sector in India is growing rapidly. In March 2023, the S&P Global India Manufacturing PMI increased to 56.4, a three-month high, above market expectations of 55.0. The speed of growth in new orders was at 3-month highs, and output increased at a rate that was faster than its long-term average and the fastest since last December. Additionally, export sales increased more quickly than purchases, which increased the highest since May 2022. By 2030, India may export goods worth US$ 1 trillion, making it the third most sought-after destination for manufacturing in the world.
SwitchOn's success is a testament to the growing importance of AI-based solutions in the manufacturing industry. By reducing defects and automating quality inspection, SwitchOn is helping manufacturers improve their product quality and increase their profitability. The company's unique AI-powered system has the potential to disrupt the industry, and it will be exciting to see how SwitchOn continues to innovate and contribute to the development of the manufacturing industry in India and beyond.
