Brihaspathi Technologies raises USD 10 Mn, plans IPO

Hyderabad, Jun 27 (PTI) Brihaspathi Technologies Limited a city-based AI surveillance and security solutions provider on Thursday said it gearing up for an Initial Public Offering (IPO) in the next financial year and the proceeds from it will be utilised to strengthen its research and development (R&D) capabilities, and expand manufacturing capacity.

The firm has successfully raised USD 10 million in funding from foreign institutional investors and others and the capital infusion will fuel the company's expansion efforts, including the establishment of a new 72,000 sq ft CCTV manufacturing facility in the city which is expected to be operational by the end of the current fiscal, a press release from the company said.

As part of its growth strategy, the company plans to hire over 400 additional employees to support its mission of delivering world-class, Made-in-India AI-based security solutions. Brihaspathi Technologies has been awarded a major surveillance project by the Maharashtra State Road Transport Corporation (MSRTC).

The project involves implementing a comprehensive AI-enabled CCTV monitoring system across the MSRTC network, reinforcing the company's strong credentials in the public sector and its ongoing collaborations with government and institutional clients.

Rajasekhar Papolu, Managing Director, Brihaspathi Technologies Ltd, said, "The USD 10 million funding will accelerate our expansion plans, particularly the commissioning of our new manufacturing unit in Hyderabad, which will significantly scale up our production capabilities. As we prepare for our IPO in the next financial year, we remain committed to developing world-class, AI-powered, Made-in-India technologies that will redefine the security landscape across the nation.”


To date, the company has deployed over 1.2 million CCTV cameras across India.



Its portfolio includes high-profile installations such as surveillance systems for the Border Security Force (BSF) along international borders, election monitoring for the Election Commission of India, AI-based classroom monitoring systems, wildlife and national park surveillance, and exam control room solutions across various states.


In the past, Brihaspathi Technologies has achieved a historic milestone by deploying 64,000 CCTV cameras across 19 states in a single day for the NEET examination.