Quarkitech, a Tamil Nadu-based deep-tech startup, raised Rs. 2 crore in pre-seed funding. The company stems out of IIT Madras Research Park and secured the pre-seed funding from Artha Access and Finvolve. The funding is aimed at improving its proprietary data compression technology for defence, aerospace, and other data-intensive applications.
Apart from this, the startup received another funding of Rs. 1.5 crore by IITM-CDOT Samgnya Technologies Foundation, under the National Quantum Mission. These fundings will help Quarkitech grow its work and turn its ideas into products. As India now progressing on Drone technology, the company is working on data volume, quality, transmission speed, and cost. Its algorithms compress sensor data by 10 to 100 times, depending on sensor type.
Sanyam Parashar, CEO and Founder of Quarkitech explained that these algorithms are inspired from the mathematical framework used in quantum body physics. He added that this results in much faster and cheaper computation, and 10-100X more efficient data transmission from high-value sensors.
Quarkitech wants to tackle such problems with new computing methods. The company is working in a field that needs plenty of research before an idea can become a useful product. This makes the new funding important. It gives the startup more time and resources to test its ideas and build working solutions.
Quarkitech now has to turn its research into something businesses can use. This will be the real test for the young company. The Rs. 2 crore funding gives it a good start. If its technology can solve real problems faster and at a practical cost, Quarkitech could find opportunities across different industries.