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AI startup Tranzmeo raises pre-seed round from HPCL

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Kerala-based start-up Tranzmeo, has secured an undisclosed pre-seed round funding from Hindustan Petroleum Corporation Ltd (HPCL) for its Artificial Intelligence- (AI) powered product, T-connect OneView.

Tranzmeo is a NASSCOM 10,000 incubated start-up.

 

ALSO READ: 15 startups to list on Indian bourses in 2019

The funds will be used to accelerate research and development of its advanced, proprietary technology and product line-up, bolster business development opportunities, and double the headcount over the next one year. HPCL will also join the board of Tranzmeo.

Tranzmeo has already launched a beta version of T-Connect and it currently analyses 508 km of HPCL’s petroleum pipeline for anomaly detection and prediction.

Founded in 2017 by engineer-turned-entrepreneur, Safil Sunny, Tranzmeo has developed ‘T-connect OneView’, a self-learning, data-driven, comprehensive anomaly forensics application, which runs on data streams to impact energy industries.

HPCL’s investment in Tranzmeo is part of India’s state-owned oil and gas companies’ strategy to partner innovative startups that help them cut costs and increase operational efficiencies.

Ten oil companies have formed a Rs 320 crore fund to support 30 startups across sectors, including fuel and waste management.

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