Hyderabad-based firm raises USD 10 million, secures Maharashtra RTC project
HYDERABAD: Hyderabad-based Brihaspathi Technologies Limited — an AI-driven surveillance and security solutions provider — has raised USD 10 million from foreign institutional investors and others. The funds will support the company's expansion, including the establishment of a new CCTV manufacturing unit in Hyderabad, which is expected to be operational by the end of this financial year.
Managing Director Rajasekhar Papolu on Thursday revealed that the company has secured a major surveillance contract from the Maharashtra State Road Transport Corporation (MSRTC) to implement an AI-enabled CCTV monitoring system across its network.
'Brihaspathi Technologies is also preparing for an Initial Public Offering (IPO) in FY 2026-27. The proceeds will be used to enhance R&D, boost manufacturing capabilities and advance AI-based innovations,' he added.
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