Ahmedabad (Gujarat) [India], November 25: Mantra Softech, an Indian deep-tech company focused on identity management, security systems and computer vision, has raised USD 14 million in its first institutional investment round. The funding was led by India SME Fund II, with participation from Motilal Oswal Principal Investments.
The company said the capital will be directed towards strengthening its research and development programmes, expanding its intellectual property portfolio, and establishing a dedicated Center of Excellence for AI-powered computer vision and security technologies.
“This investment represents a significant step in our long-term strategy to build globally competitive technologies from India,” said Hiren Bhandari, Co-Founder, Mantra Softech. “We are focusing on advanced R&D, core engineering talent, and systems that can support large-scale authentication and security applications.”
Mantra Softech develops biometric devices, access control infrastructure and AI-driven identity platforms used in high-security and high-volume environments. Its hardware and software solutions have been adopted across aviation, defence, financial services, workforce management and digital public infrastructure.
The company’s technologies are currently deployed in airport employee access systems, DigiYatra-linked identity solutions, defence identity management, and enterprise workforce authentication projects. According to the company, more than 20 of India’s top 100 corporates use its platforms for secure access, compliance and operational efficiency.
“We are expanding into new aviation and industrial projects and increasing our presence in international markets, particularly in the Middle East,” said Bhavyen Bhandari, Co-Founder, Mantra Softech.
Explaining the rationale behind the investment, Mitin Jain, Founder and Managing Director of India SME Fund II, said:
“Our partnership with Mantra Softech is backed by their consistent execution in biometric and security technologies. Their experience in national identity and critical infrastructure initiatives positions them well for the next phase of growth.”
About Mantra Softech
Founded in 2006, Mantra Softech designs and manufactures biometric sensors, RFID-based systems, access control terminals and AI-enabled IoT hardware. The company holds multiple U.S. patents and complies with industry standards including STQC and FBI biometric certification. Its solutions are deployed by government organisations and enterprises in more than 50 countries.
Ambit Private Limited served as the exclusive financial adviser for the transaction.