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Accel leads $1.8 Mn round in AI startup Fibr

EntrackrEntrackr · 11m ago
Accel leads $1.8 Mn round in AI startup Fibr
Medial

Artificial intelligence driven personalisation platform Fibr has secured $1.8 million in a funding round led by Accel along with participation from 2am VC and CRED founder Kunal Shah. The company had earlier raised $2 million in a seed round from its existing investor and others back in February 2023. The proceeds will be deployed towards enhancing its AI personalisation platform, expanding its customer base, and hiring talent including engineers, product marketers and sales and go-to-market (GTM) experts, Fibr said in a press release. Co-founded in 2023 by Ankur Goyal and Pritam Roy, Fibr helps marketers reduce customer acquisition cost (CAC) and improve conversion rates. Its flagship offering ‘Pilot’ helps brands create personalized landing pages for ads, emails, and SMSes. According to the Bengaluru-based company, it caters to lead generation clients in sectors such as insurance, broadband, home improvement, and consumer services. It is currently targeting markets in the US, Canada, and India, and aims to foray into the European market also. Fibr claims that it is developing the beta version of its second product called Blocks which will help marketers to scale their content across formats, such as converting a high-performing Facebook ad into a blog, Google ad, or social media post.

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Exclusive: Gen AI startup Simplismart to raise $7 Mn led by Accel

EntrackrEntrackr · 12m ago
Exclusive: Gen AI startup Simplismart to raise $7 Mn led by Accel
Medial

Generative artificial intelligence startup Simplismart is all set to raise a new round led by Accel, two sources aware of the matter told Entrackr. The Bengaluru-based startup will join a growing list of generative AI startups which have raised decent funding in the ongoing calendar year. “Accel is leading $7 million round in Simplismart with backing from existing investors,” said a source requesting anonymity. “Simplismart has received the term sheets and the deal is set to be public soon.” Simplismart previously raised seed money from Anicut Capital, Sunn91, First Cheque and Shastra VC but it didn’t announce the deal in the media. Founded in 2022 by Amritanshu Jain and Devansh Ghatak, Simplismart enables businesses to build a scalable production-grade AI system and manage the development lifecycle without writing a single line of code. As per the company, its platform lets an amateur as well as an expert train and monitor ML models collaboratively on almost any kind of data or use-case. Sources assert that the company will be valued at around $35 million. Accel declined to comment on the story while queries sent to Simplismart did not elicit any response. In July 2023, AWS and Accel launched the AWS ML Elevate program which selected 35 generative startups from India and Simplismart was a part of the cohort. A recent study by NASSCOM said that the number of generative AI startups in India has more than doubled from 2021 to 2023. This can also be evident from the surge in funding in such startups since December 2023. As per data compiled by startup data intelligence platform TheKredible, more than half a dozen early-stage generative AI startups have raised nearly $100 million in funding in the past six months, Sarvam AI leads the pack with $41 million in Series A followed by Ema and Neysa which raised $25 million and $20 million in their seed round respectively. The list also includes Vodex, KonProz, Dubpro.ai, PlanckDOT and Ayna.

ErlySign raises $1.8 Mn in pre-Series A round from Ashish Kacholia

EntrackrEntrackr · 5m ago
ErlySign raises $1.8 Mn in pre-Series A round from Ashish Kacholia
Medial

ErlySign raises $1.8 Mn in pre-Series A round from Ashish Kacholia Healthtech startup ErlySign has raised Rs 16 crore ($1.8 million) in its pre-Series A round from Ashish Kacholia. The proceeds will be used in clinical trials, securing CDSCO (Central Drugs Standard Control Organisation) approvals, and bringing ErlySign’s oral cancer detection kit to market. Founded in 2019 by Shubhendra Singh Thakur and Deovrat Begde, ErlySign develops solutions for early detection of oral cancer. The startup also claims to offer India’s first salivary biomarker-based test which can identify pre-cancerous conditions much before visible symptoms emerge. Looking ahead, ErlySign plans to use CRISPR miRNA-based testing technology to detect multiple types of cancer using the same saliva sample within 15–20 minutes.

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