BYTES bags funding from Nikhil Kamath’s WTFund
In a significant development in the Indian startup ecosystem, AI-powered safety system provider for two-wheelers, BYTES, has secured undisclosed funding from Nikhil Kamath’s WTFund as part of its second cohort for 2024. This funding round comes as a major boost to the company, which is focused on revolutionizing the two-wheeler safety landscape with its innovative solutions.
BYTES, founded by Prakhar Agrawal and Ashish Biswal, aims to make riding two-wheelers safer by leveraging AI and vision-based intelligence. The company’s cutting-edge technology enables real-time monitoring of the rider’s behavior, detecting potential hazards, and providing timely alerts to prevent accidents. With this funding, BYTES plans to expand its team, enhance its product offerings, and accelerate its growth trajectory.
“We are thrilled to have WTFund on board as we embark on this exciting journey,” said Prakhar Agrawal, co-founder and CEO of BYTES. “AI and vision-based intelligence will play a crucial role in ensuring that safety isn’t an afterthought but an integral part of riding. Our goal is to make two-wheeler riding safer and more enjoyable for millions of people around the world.”
WTFund, founded by Nikhil Kamath, a well-known entrepreneur and investor, focuses on backing startups that have the potential to create a significant impact in their respective domains. The fund’s investment in BYTES is a testament to the company’s innovative approach to two-wheeler safety and its potential for growth.
The two-wheeler industry is a significant contributor to the global automotive market, with millions of vehicles on the road worldwide. However, the risk of accidents is always present, particularly for two-wheelers, which are more vulnerable to road hazards due to their size and lack of protective barriers. BYTES’ AI-powered safety system aims to mitigate this risk by providing real-time alerts and insights to riders, helping them avoid potential dangers and stay safe on the road.
BYTES’ technology is based on advanced computer vision and machine learning algorithms that analyze the rider’s behavior, the road conditions, and other relevant factors to predict potential hazards. The system provides alerts and insights to the rider through a mobile app, enabling them to take corrective action to avoid accidents.
The company’s platform is designed to be scalable and adaptable, allowing it to integrate with various two-wheeler manufacturers, dealerships, and insurance providers. BYTES’ vision is to create a comprehensive safety ecosystem that promotes safe riding practices and reduces the risk of accidents on the road.
The funding from WTFund is expected to accelerate BYTES’ growth plans, enabling the company to expand its team, enhance its product offerings, and establish strategic partnerships with key players in the two-wheeler industry. With this investment, BYTES is well-positioned to make a significant impact in the safety landscape of the two-wheeler industry.
In conclusion, BYTES’ funding from WTFund is a significant milestone in the company’s journey to revolutionize two-wheeler safety. The company’s innovative AI-powered safety system has the potential to make a significant impact in the industry, and with this investment, it is well-positioned to achieve its goals. As the two-wheeler industry continues to evolve, BYTES is poised to be a key player in shaping the future of safety and riding experiences.
Source: https://inc42.com/buzz/bytes-bags-funding-from-nikihil-kamaths-wtfund/
