DeepTechGenie Secures Investment to Transform Smart Retail in India
- IoT and AI startup DeepTechGenie raises capital to expand its automated Smart Store model across India’s urban and semi-urban regions.
- Backed by Enlighten Capital, the company plans to extend its AI-driven solutions to new sectors, including healthcare, logistics, and hospitality.
DeepTechGenie, a Bhubaneshwar-based IoT- and AI-powered startup aiming to revolutionize the smart retail space, has obtained substantial funding from Scale UP Trust/Enlighten Capital, a well-known investment group that supports disruptive companies.
Although the precise capital amount is undisclosed, industry insiders indicate that it sets DeepTechGenie up for quick expansion in the retail technology space.
The innovative siblings Basha Mohanty and Bikash Kumar Mohanty founded DeepTechGenie in 2023, and since then, the company has made significant progress in converting conventional retail into modern smart spaces.
Bikash Kumar Mohanty, CEO and Co-Founder of DeepTechGenie, said,
“Our vision is to revolutionize shopping with technology that bridges customers and retailers, making shopping smarter, faster, and more engaging. This funding marks a pivotal milestone in our journey and will help us further empower retailers with cutting-edge, user-friendly solutions.”
DeepTechGenie is currently getting ready to expand its Smart Store strategy throughout India's urban and semi-urban regions with the help of Enlighten Capital.
In order to eliminate the need for traditional checkout counters and staff-intensive operations, the company plans to establish a nationwide network of intelligent, completely automated retail locations.
With a view toward growing into new sectors like healthcare, logistics, and hotels, it is also stepping up research and development to produce even more customized and data-driven purchasing experiences.
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Its modular products, which include Smart Display Panels, Single Smart Order Systems, and behavioral analytics, are assisting companies in gaining real-time data insights and increasing operational effectiveness.
This investment coincides with an increase in demand for smart retail solutions as companies look to adjust to changing digital trends and customer behavior.
The success of DeepTechGenie positions the startup as a major player in the global deep tech ecosystem and bodes well for IoT-driven retail innovation in the future.
Edited by Harshajit Sarmah
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