Ripik.ai eyes Rs 150 crore round from Gaja Capital to scale AI-driven industrial monitorin

Noida-based Ripik.ai is in advanced talks to raise Rs 140–150 crore in its next funding round, with private equity firm Gaja Capital leading the effort, according to people familiar with the discussions. The round would mark one of the largest recent investments in an Indian deeptech startup focused on AI-driven industrial monitoring, reflecting a niche but expanding market for automation solutions in cement, steel, and other heavy manufacturing sectors.

Ripik.ai’s technology combines proprietary AI models with hardware sensors and cameras to monitor equipment health, material flows, and production inefficiencies in real time. The startup has already deployed its systems at large manufacturing units, a model that aligns with the rising demand for predictive maintenance and operational efficiency in India’s industrial sector. Existing investors include Accel and Venture Highway (now part of General Catalyst), though no term sheet has yet been signed.

The funding comes as Indian deeptech startups face a two-speed market: while software-led AI companies continue to attract capital—such as Hunar.AI’s Rs 40 crore raise for agentic AI in hiring (covered here on October 19)—hardware-adjacent plays like Ripik.ai must prove both technical scalability and unit economics to secure backing. Gaja Capital’s involvement suggests confidence in Ripik’s ability to do so, particularly as the firm has previously backed industrial and infrastructure-focused ventures.

For Ripik.ai, the funds would likely fuel expansion into new verticals and hardware development, areas where margins remain thin but where AI-driven insights can justify premium pricing. The round also arrives as competitors—including international players—intensify their push into Indian manufacturing. Whether Ripik can differentiate itself through specialized AI applications (rather than generic solutions) will determine its long-term viability.

The timing of the raise is notable. Just last month, Unacademy co-founders launched Longshot Capital, a Rs 700 crore AI and deeptech fund (covered here on October 26), signaling broader capital availability for high-risk, high-reward bets in the sector. Ripik’s round, if closed, would position it as a case study for how Indian startups can monetize AI in hardware-heavy industries—a segment that has historically struggled to attract the same level of funding as software plays.

What to watch: Whether Gaja Capital’s check includes strategic partnerships with industrial conglomerates, given its track record in infrastructure investments. Ripik’s ability to scale revenue in sectors beyond its core focus, where adoption could be higher. The broader trend of PE firms leading deeptech rounds in India, a shift from earlier VC-dominated funding cycles.

The funding, if announced, would also serve as a litmus test for investor appetite for AI-driven industrial automation in a year where capital has grown more selective. Ripik’s path to profitability—given its hardware dependencies—will be closely scrutinized by founders in similar spaces.

Sources: economictimes.indiatimes.com