Bengaluru, India – BYTES, an innovative startup specializing in AI-powered Advanced Driver Assistance Systems (ADAS) for two-wheelers, has received a ₹20 lakh non-dilutive grant from Nikhil Kamath's WTFund. This funding is part of WTFund's second cohort for 2024, aimed at empowering young entrepreneurs under 25.
Key Highlights:
- Grant Details: BYTES was awarded a ₹20 lakh non-dilutive grant from WTFund, providing essential capital without equity dilution.
- Founders: The company was founded in August 2024 by Prakhar Agrawal (CEO) and Aayush Kumar (COO), who are committed to enhancing road safety through advanced AI and computer vision technologies.
- Technology Focus: BYTES has developed an AI-driven safety system that predicts and prevents accidents by detecting high-risk scenarios and providing real-time alerts to riders, thereby reducing collision risks.
- Pilot Programs: With the new funding, BYTES plans to initiate pilot programs in collaboration with leading two-wheeler manufacturers to integrate their AI safety system into real-world applications.
- Future Funding: The company aims to conclude its Pre-Seed funding round within the next two months, seeking strategic investors to accelerate product development and operational scaling.
Our Opinion on the News
The grant from WTFund not only provides BYTES with crucial financial support but also serves as a strong endorsement of their mission to revolutionize two-wheeler safety. By leveraging AI and computer vision, BYTES addresses a significant gap in the market, especially in regions where two-wheelers are a primary mode of transportation. The planned pilot programs with major manufacturers could pave the way for widespread adoption of this life-saving technology.