Industrial gas analytics and environmental monitoring company Adage Automation has raised Rs 230 crore in a growth funding round led by private equity firm InCred Alternative Investments. The round also saw participation from Global South Capital and Prachetas Capital.
InCred Growth Partners Fund, the private equity platform of InCred Alternative Investments, invested Rs 180 crore as the lead investor in the transaction. The funding marks one of the company’s largest capital raises since its inception in 2001 and comes as demand for industrial automation and environmental monitoring solutions continues to grow.
Funding to support AI, manufacturing and international expansion
Adage Automation plans to deploy the fresh capital to strengthen its AI-powered industrial technology platform, enhance its engineering capabilities and invest in digital monitoring solutions. The company will also use the funding to expand its manufacturing capacity and accelerate its international growth plans.
The Goa-based company develops gas analyser systems used across industries for process analytics and environmental monitoring. Its offerings include research and development, engineering, manufacturing, system integration and lifecycle services for industrial clients.
Industrial automation sector attracts investor interest
Founded in 2001, Adage Automation operates in a niche segment that supports industries with gas analysis, emissions monitoring and process optimisation technologies. Increasing regulatory focus on environmental compliance and the adoption of digital industrial solutions have created new growth opportunities for companies operating in this space.
The latest investment reflects continued investor interest in specialised industrial technology companies that combine automation, AI and environmental monitoring. The funding is expected to help Adage Automation strengthen its product portfolio and expand its presence in overseas markets over the coming years.
FAQs
- What does Adage Automation do?
Adage Automation develops industrial gas analyser systems and automation solutions used for process monitoring and environmental analysis across industries.
- How much funding has Adage Automation raised?
Adage Automation has raised Rs 230 crore in a growth funding round led by InCred Alternative Investments.
- Who led Adage Automation’s latest funding round?
The funding round was led by InCred Alternative Investments through its InCred Growth Partners Fund.
- How will Adage Automation use the new funding?
The company plans to invest in AI-powered industrial technology, manufacturing expansion, engineering capabilities and global operations.
