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The investment will fuel the next phase of growth through the development of AI-powered industrial technology platforms, expansion of its world-class manufacturing infrastructure and accelerated global expansion, reinforcing leadership in process gas analytics and environmental monitoring solutions. Gurgaon, July 07, 2026: Adage Automation Private Limited (“Adage”, “Company”) 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. Through long-standing partnerships with leading global OEMs and its integrated engineering platform, the Company delivers mission-critical industrial and climate solutions to customers across oil & gas, steel, cement, chemicals, power, energy and other process industries where operational reliability, environmental compliance and process optimization are increasingly strategic priorities. 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 "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. From an India-bred startup, Adage has evolved into an acknowledged leader in country’s Gas Analytical market, backed by world-class infrastructure, deep domain expertise and a relentless focus on innovation. This will enable us to accelerate our global expansion, invest further in AI-powered digital technologies and advanced analytical solutions and strengthen our position as a trusted partner to the world's leading energy, petrochemical and process industries. 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 "Adage combines deep engineering expertise, market leadership and strong structural tailwinds driven by industrial automation and environmental monitoring. Its differentiated capabilities, trusted customer relationships and global OEM partnerships position the Company to build a leading industrial technology platform. 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." Mragank Jain, Managing Partner, Global South Capital "The next generation of industrial infrastructure will be defined by intelligent, AI-enabled, data-driven operations. Leveraging our extensive global network and operational capabilities, we will support the Company's inorganic growth." Pradeep Bhandavekar, Prachetas Capital "Adage has built a differentiated engineering and technology platform serving mission-critical industries with precision and reliability. Its scalable business model, expanding digital capabilities and strong execution track record create a compelling foundation for long-term growth." About Adage Automation Established in 2001, Adage Automation is a leading gas analytics company, delivering integrated engineered solutions to the large & mid-size industries for critical process analytical applications, Continuous Emission Monitoring Systems (CEMS) and Ambient Air Quality Monitoring Systems (AAQMS) applications. Website: https://www.adage-automation.com/ About InCred Growth Partners Fund and InCred Alternative Investments InCred Growth Partners Fund (“IGPF”) is managed by InCred Alternative Investments Private Limited (“InCred Alternative Investments”), which is part of InCred Capital Financial Services Limited (“InCred Capital”). InCred Alternative Investments manages private equity funds focused on investing in high-quality, founder-led Indian businesses operating across sectors including manufacturing enterprises of strategic and national importance, technology, consumer, and healthcare. The IGPF series currently comprises of two active Funds – InCred Growth Partners Fund – I and InCred Growth Partners Fund – II, which are schemes under InCred Alternative Opportunities Trust (IAOT), a Trust registered with SEBI as a Category II Alternative Investment Fund. Website:https://www.incredassetmanagement.com/incred-growth-partners-fund-i/ About Global South Capital Global South Capital is a SEBI-registered Category II Alternative Investment Fund partnering with founders to build globally competitive, future-ready industrial and manufacturing platforms to accelerate growth through capital, operational expertise, M&A strategies, technology enablement and international expansion. Website: https://www.globalsouthcap.com About Prachetas Capital Prachetas Capital is a private equity investment firm partnering with high-growth, technology-led Indian businesses through long-term growth capital and strategic support. Website: https://prachetascapital.com

We are proud to share that Adage Automation  has been featured in Oil & Gas News (OGN)  which is one of the Gulf region's most respected oil, gas, and industrial publications for the pivotal role our joint venture with Kanoo Energy , Adage Kanoo Industrial Company (AKIC) , is playing in strengthening Saudi Arabia's gas analytical instrumentation landscape. The feature, published as part of OGN's in-depth profile on Kanoo Energy's expanding industrial footprint in the Kingdom, highlights AKIC as a key delivery vehicle for integrated analytical systems and localised engineering support, directly aligned with Saudi Arabia's Vision 2030 and IKTVA objectives. We thank our partners at Kanoo Energy for their continued collaboration, and our team at AKIC in Jubail for the dedication that has made this recognition possible. Read the full article available on the Oil & Gas News (OGN)  website

At the Siemens International Partner Conference (IPAC) held in Karlsruhe, Germany (20–22 May 2025), Adage was singled out from the entire global partner network for two key distinctions: Greatest Success Story Award 2025 Greatest Volume Project Award 2025 Being selected for these awards, among all Siemens Process Analytics partners worldwide speaks to the depth of collaboration, engineering rigour, and measurable results delivered by our project teams.   We extend our thanks to o ur customers , whose operational challenges guide every solution we design, the Siemens Process Analytics team  for their trusted partnership and technical support, and every Adage colleague  whose expertise and dedication turned ambitious goals into finished projects worthy of recognition.   Thank you to everyone who contributed to these achievements. We’re proud of this milestone and even more excited for what comes next. Check out the LinkedIn post.

We are proud to share that Adage Automation  was recently featured in Gulf Daily News , Bahrain’s leading daily, for our pivotal role in shaping the conversation around AI in emissions monitoring  at the CEM Middle East Conference  held from April 8–10, 2025, in Manama.   In a session that sparked immense interest, Ms. Oindrilla Chatterjee  from Adage delivered a presentation on Predictive Emission Monitoring Systems (PEMS) , a software-based technology we are offering in collaboration with Siemens that allows us to explore software based solutions for emissions monitoring, marking a vital step toward environmental compliance in the Gulf region.   ⁠ Read the full article here

Adage Automation, in collaboration with Kanoo Energy, proudly marked its entry into the Middle East emissions monitoring landscape with a powerful presence at CEM Middle East 2024  in Bahrain—one of the world's leading conferences on Continuous Emissions Monitoring. At the event, we showcased our cutting-edge CEMS solutions  engineered by our joint ventures AKIC (Adage Kanoo Industrial Company)  in Saudi Arabia and AKAI (Adage Kanoo Analyzer Industry)  in Abu Dhabi. Powered by technologies from Siemens, Airoptic, and Process Insights, our solutions reflect our commitment to innovation and environmental compliance. Our team also presented advancements in PEMS (Predictive Emissions Monitoring Systems) , leveraging AI and data analytics to define the future of intelligent emissions control. A key highlight was the signing of strategic partnership agreements with Airoptic (Poland)  and SK-Elektronik GmbH (Germany) , solidifying our leadership position across the Gulf. The conference also provided a valuable platform to engage with dignitaries—including a high-level interaction with His Excellency, the Minister of Energy of Bahrain —and sparked new conversations set to shape the future of emissions monitoring in the region. Click here to read more

Adage Automation exhibited at the Power, Petroleum, and Process Automation (PPPA) 2025 , organized by ISA Maharashtra in Navi Mumbai on February 7-8, 2025 showcasing our cutting-edge Gas Analytical solutions. Angshuman Paul, Executive Director of Adage, presented a talk on our innovative TDLAS analyzer solutions, highlighting precision and efficiency in process industries. Manoj Singh , President of Sales - SBU2, Adage,  presented on Adage's expertise with the  Valmet  Maxum Gas Chromatograph, tailored for the most complex applications in the petrochemical sector. A key highlight was Dr. Abhijit Chatterjee’s insightful discussion on AI’s impact on Gas Analyzers and Automation, emphasizing its role in enhancing safety and competitiveness. Thank you to ISA Maharashtra and all our visitors!  Check out the event highlights on LinkedIn

Adage Automation proudly showcased its advanced gas analytical solutions at India Energy Week 2025, held from February 11-14 at the Yashobhoomi Convention Centre, New Delhi. Our stall featured cutting-edge gas analyzers, emissions monitoring systems, and digital integration tools, reinforcing our commitment to energy efficiency, process safety, and environmental compliance. Engaging with industry leaders, we highlighted solutions for oil & gas, power, petrochemicals, and heavy industries, demonstrating how precision gas analysis plays a crucial role in India’s energy transition. Watch the highlights here :

Adage Automation is excited that the foundation stone for our brand-new, state-of-the-art factory in Verna, Goa, was laid on February 18, 2025! This new facility is three times larger than our existing Unit 2, already the world’s largest Gas Analytical Integration facility, allowing us to execute multiple large-scale global projects simultaneously. The momentous occasion was graced by Mr. Ali Abdulla Kanoo, Mr. Fahad Kanoo, and Mr. Manoj Kumar Tripathy, marking a significant step towards our vision of becoming the largest Gas Analytical System Integrator in the world. This expansion strengthens our manufacturing capabilities and sets new industry benchmarks. A huge thank you to our partners, Team Adage, and well-wishers for making this dream a reality. Join the celebration and watch the highlights on LinkedIn

Vijay Hamirwasia @ SABIC 2025 Kanoo Energy partnered with Adage Kanoo Industrial Company (AKIC) at the SABIC Technical Meeting 2025. AKIC, a joint venture between Kanoo Energy and Adage Automation, is a manufacturer and service provider of gas analyzers for various applications, offering customized solutions for industries, such as oil and gas, petrochemicals, and utilities. By building on its legacy of innovation and local impact, Kanoo Energy remains committed to creating more job opportunities and contributing to a cleaner future to address current industry needs while focusing on the future whereas AKIC with it's technical expertise in the field of Gas Analytics is contributing to the development of a sustainable future. Read More

We are thrilled to announce that our joint venture, Adage Kanoo Industrial Company (AKIC), has been highlighted in the latest issue of OGN Magazine. This feature showcases our strategic partnership with Kanoo Energy, KSA  and our commitment to driving innovation in gas analytics. Key Highlights: 1. Launched in Jubail, Saudi Arabia on November 12, 2024 2. State-of-the-art facility supporting local manufacturing 3. Cutting-edge solutions for oil & gas, petrochemicals, and utilities sectors 4. Aligned with Saudi Arabia's technological advancement goals As Dr. Abhijit Chatterjee , our Managing Director, stated: "This is a red-letter day for us as we inaugurate our newly established company in the Kingdom of Saudi Arabia in partnership with Kanoo." This feature underscores our dedication to delivering advanced technological solutions and contributing to the region's industrial transformation. Read the full story in the December 2024 edition of OGN Magazine here.

We are excited to share a major milestone in our journey: the grand opening of our new, state-of-the-art factory in Abu Dhabi, United Arab Emirates, on November 11, 2024. This marks the official launch of Adage Kanoo Analytical Industry LLP (AKAI) , solidifying Adage's strong presence in the UAE and the lower Gulf region. The AKAI factory will cater to the growing gas analytical needs of our esteemed partners, including ADNOC Group, QatarEnergy, Petroleum Development Oman, and many other leading end-users and EPC organizations. This new venture is a testament to our partnership with Kanoo Energy , reflecting a shared vision of excellence, innovation, and localization. At the heart of AKAI’s operations are top-end gas analytical solutions, featuring advanced technologies like: Gas Chromatographs Continuous Gas Analyzers (CGA) Tunable Diode Laser Absorption Spectroscopy (TDLAS) Ambient Air Quality Monitoring Systems (AAQMS) Mass Spectrometers Flare Gas Calorimeters Total Organic Carbon (TOC) Analyzers Read more on our LinkedIn post and watch the AKIA Inauguration Video .

We are excited to announce the launch of Adage Kanoo Industrial Company (AKIC) , in Jubail, Saudi Arabia, a joint venture between Kanoo Energy and Adage Automation, officially inaugurated on November 12, 2024. This collaboration combines Kanoo Energy’s regional expertise with Adage Automation’s cutting-edge gas analytics technology, aligning with Saudi Arabia's Made in Saudi Program. AKIC’s state-of-the-art facility in Jubail will support local manufacturing, while also exporting Saudi-made products globally. The venture aims to provide tailored solutions for industries such as oil and gas, petrochemicals, and utilities, enhancing operational efficiency and environmental compliance through advanced gas analytics and digitalization. Press Release AKIC Inauguration Video