InCred Alternative Investments Leads ₹230-cr Funding Round in Adage Automation

InCred Alternative Investments on Wednesday said it has led a ₹230-crore funding round in Adage Automation, with a ₹180-crore bet by its private equity platform.

The funding round also witnessed participation from Global South Capital and Prachetas Capital.

The investment will support Adage Automation's next phase of growth as it strengthens its position as a technology-led industrial solutions platform serving critical process industries in India and overseas markets, the companies said.

The proceeds will be used to accelerate investments in AI-enabled industrial software, advanced engineering capabilities, digital monitoring platforms, manufacturing expansion and global operations, the release added.

"This will enable us to accelerate our global expansion, invest further in AI-powered digital technologies and advanced analytical solutions and strengthen our position as a trusted partner to the world's leading energy, petrochemical and process industries," said Abhijit Chatterjee, Managing Director and Chief Executive Officer at Adage Automation.

The company also plans to deepen its presence across the Middle East, Africa, Europe and the United States while continuing to expand its technology portfolio to help customers improve operational efficiency, predictive maintenance, regulatory compliance and sustainability outcomes, a release said.