Adage Automation Private Limited has raised ₹230 crore in a funding round led by InCred Growth Partners Fund, the private equity platform of InCred Alternative Investments, which invested ₹180 crore as the lead investor, alongside Global South Capital and Prachetas Capital.

The investment will support Adage's next phase of growth as it strengthens its position as a technology-led industrial solutions platform serving critical process industries in India and international markets.

Adage is India’s leading player in the gas analytical market. Established in 2001, Adage has built deep capabilities across the R&D, design & engineering, manufacturing, system integration and lifecycle servicing of advanced gas analyser systems for some of the most critical applications in process analytics and environment monitoring solutions. 

The capital will be deployed to accelerate investments across AI-enabled industrial software, advanced engineering capabilities, digital monitoring platforms, manufacturing expansion and global operations. The Company also plans to deepen its presence across the Middle East, Africa, Europe and the United States while continuing to expand its technology portfolio to help customers improve operational efficiency, predictive maintenance, regulatory compliance and sustainability outcomes.

 Dr. Abhijit Chatterjee, Managing Director & CEO, Adage Automation, said, "This investment marks an important milestone in Adage's growth journey and is a strong endorsement of Adage's vision and the tremendous opportunity ahead. We are delighted to welcome InCred Alternative Investments, Global South Capital and Prachetas Capital as long-term partners whose strategic expertise will help accelerate our next phase of innovation and global growth initiatives."

 Vivek Singla, Managing Partner & CIO, InCred Alternative Investments, commented, "Adage combines deep engineering expertise, market leadership and strong structural tailwinds driven by industrial automation and environmental monitoring. As the lead investor, we look forward to partnering closely with Dr. Chatterjee and his team to accelerate Adage's next phase of innovation, global expansion and long-term value creation."

Source: Press release