Latest news with #Brihaspathi
Time of India
9 hours ago
- Business
- Time of India
Hyderabad's Brihaspathi Technologies raises $10 million from FIIs, plans IPO by FY27
HYDERABAD: AI surveillance and security solutions provider, Brihaspathi Technologies Limited, raised US$10 million (approx ₹86 crore) from foreign institutional investors (FIIs) and some individual investors, even as it is mulling an initial public offering in the 2026-27 financial year. While the FIIs that participated in the fundraise include Kingsman Wealth Fund PCC - Aurisse Special Opportunities Fund and Citrus Global Arbitrage Fund, the individual investors include former badminton champ Saina Nehwal. The city-based company will utilise the capital infusion to fund its expansion plans, which include setting up a new 72,000 sq ft CCTV manufacturing facility in Hyderabad. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad This facility will have the capacity to manufacture 2.5 lakh devices per month, Brihaspathi Technologies managing director Rajasekhar Papolu said on Thursday. Apart from CCTV systems, the facility, which is coming up at Tuniki Bollaram, will produce laptops under Brihaspathi brand and is expected to be operational by the end of the current financial year. Currently, the company has the capacity to manufacture around 8 lakh devices per annum. The company also plans to hire about 400 more employees.
Hans India
11 hours ago
- Business
- Hans India
Brihaspathi Tech raises $10M, bags MSRTC deal; ready for IPO
Brihaspathi Technologies Limited, a Hyderabad-based leader in AI-powered surveillance and security solutions, has raised $10 million in fresh funding from foreign institutional investors (FIIs) and other strategic partners. The company also announced a major project win from the Maharashtra State Road Transport Corporation (MSRTC) and confirmed plans to go public in the next financial year. The latest funding round will support the development of a 72,000 sq. ft. CCTV manufacturing facility in Hyderabad, expected to be operational by the end of the current fiscal. It will also facilitate the recruitment of over 400 new employees and bolster the company's mission to scale its 'Made-in-India' AI surveillance technologies. 'Our expansion is entering a transformative phase,' said Rajasekhar Papolu, Managing Director of Brihaspathi Technologies. 'This investment accelerates the rollout of our new manufacturing plant and positions us for substantial growth across domestic and global markets.' In a key milestone, Brihaspathi has been awarded a comprehensive AI-enabled CCTV surveillance project by MSRTC. The deployment will span the transport corporation's entire network, enhancing public safety infrastructure and reaffirming Brihaspathi's strong track record with government and institutional clients. The company has already deployed over 1.2 million CCTV cameras across India. Notable projects include surveillance for the Border Security Force (BSF), election monitoring for the Election Commission of India, AI-based classroom monitoring, and wildlife surveillance. A standout achievement was the deployment of 64,000 CCTV cameras across 19 states in a single day for NEET examination monitoring. Brihaspathi is targeting a 30 per cent revenue increase in FY 2025–26, fueled by growing demand for smart surveillance solutions across sectors such as education, public safety, and transport in both urban and rural areas. It is the first Indian company in the security surveillance space to attract FII participation—marking a strategic inflection point in the industry. The company plans to use proceeds from its upcoming IPO in FY 2026–27 to expand R&D, boost manufacturing capacity, and drive innovation in AI-integrated surveillance.
