Adage Automation Secures Growth Capital from InCred Alternatives to Expand Gas Analytics Business

What happened:

Adage Automation has raised ₹230 crore in growth capital in a round led by the InCred Alternative Investments. The investment will help the company pursue its expansion strategy, enhance its manufacturing capability and boost its growth rate in both domestic and international markets.  

Established in 2001, Adage Automation’s focus is on gas analytical systems, emission monitoring solutions and process analytics technologies, which are applied to various sectors including oil & gas, petrochemicals, power, fertilizers and chemicals. It has operations in more than 50 countries and is growing its international presence and has facilities and joint ventures in the Middle East.

Why it matters:

Across the globe industries are increasingly under pressure to reduce process inefficiencies, to more accurately measure emissions and to meet ever more stringent environmental regulations. Thus, the need for advanced gas analysis and monitoring systems is growing. The funding is also anticipated to facilitate growth of capacity and product development programmes.  

Industry context:

In the process industries, gas analytics is becoming a priority especially when companies engage in operation efficiency, emission reduction and regulatory compliance. Industries are increasingly relying on technologies such as continuous emissions monitoring systems (CEMS), gas analyzers and process analytics platforms to track key processes as they happen.  

The investment is also a testament to a newfound appetite among investors to bet on industrial technology companies for critical industries like energy, chemicals and manufacturing. Although a lot of the investment focus has been on software and AI startups, investors are getting to grips with specialised industrial technology firms with existing customer bases and export potential.

The funding is part of a series of many new developments at Adage, as it aims to further cement its position in the gas analytics sector and benefit from the growing demand for industrial monitoring and process optimization solutions in global markets.