October 2025 was harsh for startups everywhere, yet somehow, Intangles—a homegrown SaaS company blending AI and engineering—managed to raise ₹266 crore when most were struggling for even a meeting. This is the story of how they did it, what their tech does, and why their journey can inspire founders everywhere.
Roots in Real Problems
Intangles started in 2016, not in a flashy coworking space, but with four determined founders: Anup Patil, Neil Unadkat, Aman Singh, and Jayshri Patil. They had solid experience in engineering and analytics, but what really set them apart was their obsession with real-world problems. They saw how unpredictable breakdowns would wipe out savings for logistics and fleet owners in India. No one truly solved this—most tech just tracked vehicles, not the actual ‘health’ of the machine.
Their simple, early mission: if they could tell a fleet owner when something was about to go wrong, they could help save money and headaches. So, the team dove into data, sensors, and code—turning vehicle complaints and raw data into actionable insights.
How the Big Idea Came Together
It started by listening. When a large bus operator kept facing breakdowns, the team realized their approach would be different—rather than react after a problem, could they warn about it early? They blended digital twins (virtual vehicles), sensor data, and machine learning. The result: a prototype that actually predicted failures ahead of time. “Every good idea began with a frustrated driver,” says Jayshri with a smile.
What followed was years of relentless improvement. Instead of just showing historic problems in dashboards, Intangles began highlighting what could go wrong next—and what to fix before a disaster happened. This was rare, even globally.
The Early Struggles
Early days were all hustle. The team bootstrapped, doing consulting work and small gigs to fund experiments. That hands-on approach—testing models with real fleets, arguing over little data details, and sleeping under fluorescent lights—gave them an edge no investor deck could show. Their big break came when their solution slashed breakdowns for their first big client. The word spread: here was something different.
People in the industry needed convincing. “At our first demo, they thought we were exaggerating,” Neil laughs. “But the savings were real and visible, so the skepticism didn’t last.” Every fleet added brought fresh learnings and made their system even smarter.
Raising Money, The Intangles Way
Intangles didn’t chase funding blindly. Their first big cheque came from Baring Private Equity India in 2023, only after their value was clear. By then, their platform had matured, proving its worth in the harshest conditions. Fast forward to 2025—a tough time for fundraising—Avataar Venture Partners led a ₹266 crore round, seeing the potential beyond the buzzwords. Old investors like Baring and Cactus Partners doubled down as well.
So why did investors say yes when many said no elsewhere? Two things: a working product with deep IP, and steady growth outside India too. By this point, they were already working with clients in the US, Middle East, and Southeast Asia, not just in India.
What Does Intangles Actually Do?
At its heart, Intangles delivers peace of mind. Their software helps fleet operators know when a part will break down—before it actually fails. Their core products work on:
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Predictive health monitoring: see trouble ahead, not just after.
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Driver behavior insights: minimize risk and improve safety.
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Fuel and DEF monitoring: more savings, less theft.
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Automation and reporting: all the boring paperwork, handled smoothly.
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Support for EVs: ready for tomorrow’s fleets.
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Location and route planning: because efficiency still matters.
Tech details aside, what matters most is results. Their platform, now managing more than 400,000 vehicles, claims up to a 95% success rate in predicting problems. Clients regularly report savings per truck that are 5x what they’d spend on Intangles’ service.
Team and Growth Today
The latest round puts growth into hyperdrive. Now, Intangles has a client roster of over 40 big names—including Mahindra, Force Motors, Greaves Cotton, and Blue Energy. Their expanded products now support not only trucks and buses but also construction and mining vehicles. The company’s presence goes far beyond Pune, with teams and customers spanning the globe.
While revenue numbers are closely guarded, industry insiders estimate that Intangles makes high single-digit to low double-digit millions in annual recurring revenue. With the latest funding, the company’s value is pegged at around $100 to $150 million—a rare feat for a deeptech firm born in India.
Meet the Investors
Key backers behind this growth:
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Avataar Venture Partners: Led the Series B round; known for hands-on scaling expertise.
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Baring Private Equity India: Supported Intangles from Series A.
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Cactus Partners: Early believer and recent participant in the latest fundraise.
Their support isn’t just about money—it means deeper networks, sharper strategies, and honest feedback when the going gets tough.
What’s Next for Intangles?
Armed with new funding, Intangles is now focusing even more on international markets and beefing up its team. The roadmap: hire top tech talent, expand hardware integrations, and bring their predictive platform to even more logistics giants worldwide. There’s a special push to stay two steps ahead—innovating on EV monitoring and rolling out features for smart cities and next-generation fleets.
“Growth is about listening well, not just selling hard,” CEO Anup shares. The team is keen on keeping their culture open and curious, welcoming tough questions and always prioritizing customer conversations.
Lessons from the Founders
What’s their advice for other founders, especially those wanting to build in deeptech?
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“Let your product speak, but don’t skip the hard work of building relationships with customers.”
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“There are no shortcuts—every problem you solve adds up to trust, and trust is what earns investment, not just code.”
Real Words from the Team
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“Deeptech isn’t a sprint—it’s a marathon, and you win by learning every day.” — Anup Patil, CEO
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“Every algorithm starts with someone’s real problem. That’s where our best ideas come from.” — Neil Unadkat, CTO
Product Snapshots
Here are some highlights that make Intangles shine:
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They’re the only company using digital twins for such accurate fleet predictions.
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Their predictive model can catch over 95% of issues early, saving clients time and money.
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Their platform is used by over 400,000 vehicles worldwide—and growing.
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Their service can give up to 5x ROI on every vehicle in a customer’s fleet.
Why This Journey Matters
Intangles shows us that innovation doesn’t have to come from Silicon Valley or big VC hubs. It can grow from real problems in India, fueled by engineers who care about impact as much as code. Their rise—during tough times, with homegrown tech, and a human touch—proves that with determination, listening, and technical depth, big dreams can travel far.
If you’re building something tough, remember: true value is built in the trenches, not in conference rooms. Intangles is proof that when you focus relentlessly on the user’s pain, even the hardest markets will give you room to run.
