The funds will be used to support SwitchOn's growth in India, international expansion, key hires and research and development efforts as it continues to provide cutting-edge AI solutions for quality control in manufacturing
The firm believes Indian founders will build large technology companies for global markets and Iron Pillar aims to support these founders in their growth stage with this fund
The study analysed 50 countries based on criteria such as business tax rates, GDP growth, and cost of start-up procedures, with India ranking third from the bottom due to low scores in quality of life and happiness index and high business tax rates