Hipla Technologies Pte Ltd Raises SGD 500,000 Funding to Further Grow ContaTrack.ai
Hipla Technologies Pte Ltd is excited to announce that they have successfully raised SGD 500,000 from a stellar consortium of investors from India and Singapore.
This capital injection will support and accelerate Hipla Technologies’ new SaaS solution, ContaTrack.ai and further grow its products in the Office Automation space. ContaTrack.ai harnesses the power of artificial intelligence and computer vision to successfully notify individuals when they are about to commit a safe-distancing breach and thereby avoid contamination and infection risks in large work environments. The solution further enables organizations to conduct Contact Tracing in an automated manner. These insights are delivered using no more than an organisation’s surveillance footage.
“Working on a product that addresses a definitive gap in the industry with a strong and driven team has been super exciting for us. This capital injection will give us additional momentum to take ContaTrack.ai to a global platform and enable us to expand our talent pool,” said Sandeep Kaul, CEO, Hipla Technologies.
With the help of this funding round, Hipla is looking to further enhance the scope of ContaTrack.ai, reinvest in research and innovation, and has already begun eyeing new global markets and industry areas.
Sandeep also added, “We’re lucky to be backed by investors hailing from diverse expertise and geographies and I look forward to tapping their knowledge and support. We have a great team of highly motivated and razor sharp minds building our growth journey and I’m confident that we have a great formula to rapidly expand into new markets and do great things with the scope of ContaTrack.ai.”
With no hardware-dependency, turn-key application and significant technological empowerment, ContaTrack.ai enables organizations to return to work full-speed post lockdown without fear of compromising on employee wellness and safety.
The global smart office market is expected to touch $60 billion by 2027, growing at 12.6% CAGR from 2019-2027.
Large offices and Warehouse/manufacturing centres run the risk of cropping more than 40,000 cases of covid in a months time without Social Distancing/Contact tracing/Hygiene systems.
A product like ContaTrack.ai, rewards institutions with the ability to significantly discount the rate of infection, by 80%.