The startup will utilise the funding to strengthen its core team, increase the footprint and fulfil current orders.

Bengaluru, August 19, 2021: Venture Catalysts, India's first and largest integrated incubator and accelerator, has announced its latest investment in Altor, a Kolkata-based startup that builds IoT and AI-enabled smart helmets to make bike rides safer and more efficient. The fresh tranche of capital is a continuation of the company's pre-seed funding round, which was led by Venture Catalysts in February 2020.

Catering both to the B2C and B2B segment, Altor designs and offers smart helmets which, when connected to the mobile app, will enable the bikers to be less distracted and more aware while riding. The smart helmet comes with a variety of features that ensures convenience in riding and safety on the road.

Commenting on the investment, Abhimanyu Bisht, Vice President and Head of Investments, Venture Catalysts, said, "The global market for intelligent and connected headgears is anticipated to reach $1.5 billion by 2022 growing at a CAGR of over 16%, and with India being the largest market for two-wheelers, the opportunities are immense. With a first-mover advantage, Altor is well-positioned to capitalise on these opportunities and turn them into a profit-making business, while creating tremendous value for all stakeholders including customers (B2B company), riders and investors."

Speaking on the fund-raise, Shamik Guha (Co-Founder & CEO at Altor), said, "We're looking to attract some of the top talents in Artificial Intelligence and IoT to join us on our mission; so, this round is of great strategic importance to us." Altor is a category-creator in the space of "affordable smart helmet" with its devices being the most optimally priced amongst all the global smart helmet brands currently, considering the features offered.