Indian industrial deeptech IoT startup Datoms has successfully raised $1.2 million in a pre-Series A funding round led by Yournest Venture Capital. Established in 2021, Datoms operates as a subsidiary of Phoenix Robotix Pvt Ltd, founded by Amiya Samantaray, Nataraj Sahoo, Amrit Biswal, and Asish Sahoo. Based in Bhubaneswar, Datoms has introduced a connected operations cloud that integrates human resources, procedures, and machinery operations into a unified platform. Early investors in the startup include Ridik Capital PTE Ltd and prominent angel investors such as Mohit Garg, Saroj Mishra, and Prateek Gera.
Datoms specializes in facilitating sectors that rely heavily on human resources, such as construction, warehousing, agriculture, mining, and ports. Their platform aims to boost efficiency and automate various processes related to asset maintenance and activity planning.
Using Datoms’ solution, companies can reduce fuel costs, effectively manage both stationary and mobile machinery fleets, simplify compliance procedures, and streamline communication among various stakeholders.
Amiya Samantaray, the Co-founder and CEO of Datoms, expressed their ongoing growth by stating, “Growing at a 15% rate month on month, Datoms is building the future of connected operations from India for the world. The funding will strengthen our product offering and provide a massive opportunity for enterprises and equipment manufacturers in the distributed asset industry to ride the digitization wave. We have so far connected over 5000 machines across sectors.”
Yournest VC’s Founder and Managing Partner, Sunil Goyal, praised Datoms for its deep insights into the IoT Operations domain and the startup’s comprehensive understanding of the business challenges faced by stakeholders. Goyal emphasized Datoms’ highly scalable solution and its potential benefits across the value chain. The startup’s growing clientele, which includes major companies like Mahindra & Mahindra and Tata Motors, underlines the value of Datoms’ solutions.
With the new funding, Datoms intends to strengthen its product offerings, develop various use cases in the construction and warehousing industry, and enhance in-house AI/ML capabilities. The company will also focus on expanding its market presence across India and the Middle East.
Datoms aspires to disrupt the $600 billion global connected machine market, which is experiencing a Compound Annual Growth Rate (CAGR) of 20%. Notably, the Indian and Southeast Asian market is anticipated to grow even faster, with a projected 35% CAGR. This is largely due to increasing industry interest in asset-light models, driving a shift from a Capital Expenditure (CAPEX) business model to an Operating Expenditure (OPEX) business model. Datoms is well-positioned to leverage these industry shifts and continue its upward trajectory in the connected operations space.