Mantra Group, a leading deeptech company specialising in identity, security, computer vision and AI solutions, has raised about $14 million (Rs 125 crore) in its first institutional funding round.

The investment was led by India SME Fund II with participation from Motilal Oswal Principal Investments.

Hiren Bhandari, co-Founder, Mantra Group said the investment will fuel the next phase of innovation and expansion as the company plans to double spend on R&D, patents and IP creation.

The company will establish a Center of Excellence for AI and Computer Vision, and scale DSIR-approved R&D and while accelerating new product development, he said.

Bhavyen Bhandari, co-Founder, Mantra Group, said the company’s footprint is well-established, with over 20 of India’s top 100 corporates using the

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