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FireAI raises Rs 4 Cr in seed round led by IPV

EntrackrEntrackr · 25d ago
FireAI raises Rs 4 Cr in seed round led by IPV
Medial

AI-powered business intelligence startup FireAI has raised Rs 4 crore ($480,000) in a seed funding round led by Inflection Point Ventures (IPV). The funds will be used for product development, including innovations such as its Causal Chain diagnostic analytics platform, Text-to-SQL functionality, and a proprietary ETL tool. It also plans to expand its team and enter new markets. Founded by Vipul Prakash, FireAI uses its proprietary AI engine to deliver descriptive and diagnostic analytics for enterprises. The company’s platform integrates with over 700 data sources, supporting clients such as Government e-Marketplace (GeM). It currently has a 30-member team. FireAI builds conversational, real-time business intelligence tools that allow users to interact with data directly instead of using complex dashboards. The firm has expanded operations to Dubai, Abu Dhabi, Africa, and Kenya as a certified OEM partner, working with Alchemist LLP as its channel partner in these markets. The startup focuses on making data accessible and actionable for all business users. It claims to improve forecasting accuracy by 30% and provide real-time alerts that enhance decision-making efficiency. According to market estimates, the global AI and data analytics market is expected to grow from $74 billion in 2024 to $482 billion by 2033, while India’s market will expand from $2.6 billion to $27 billion during the same period.

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The Artment raises Rs 10 Cr in pre-Series A round led by IPV

EntrackrEntrackr · 4d ago
The Artment raises Rs 10 Cr in pre-Series A round led by IPV
Medial

Snippets The Artment raises Rs 10 Cr in pre-Series A round led by IPV Home décor and lifestyle brand The Artment has raised Rs 10 crore in pre-Series A funding round led by Inflection Point Ventures. The round also witnessed participation from Siyaram Family Office, ESV, Capitar Ventures and others. IPV made its investment in this round through IPV International as well, utilizing the GIFT City route. The Gurugram-based company had previously raised $527K in a seed funding round from Harshit Poddar and others. The proceeds will be deployed over category expansion, investment in ‘Art Lab’ – a tech-platform to crunch data, launch products and towards channel expansion, The Artment said in a press release. Co-founded in 2019 by Aditya Agarwal and Aanchal Agarwal, The Artment offers a wide range of artistic home furnishings, including dining, lighting, and wall art, designed with various art movements in mind. The brand maintains a strong online presence through its website and major e-commerce platforms, and has expanded into offline luxury retail through a partnership with Taj Hotels. “At Artment, we invested early in building a strong data analytics infrastructure called Art Lab, which powers our ability to launch the right assortment efficiently and stay close to evolving consumer preferences,” said Aditya Agarwal, founder & CEO, The Artment. As per a market research, India’s home & living market, currently valued at $3.7 billion, is growing at a 15% CAGR, with 12% of sales occurring online. The Artment claims that it is EBITDA positive and is aiming to reach 100 crore ARR in the next six months. The brand has a repeat customer rate of 20%, showing trust and steady demand from the existing users. The Artment is backed by a deep supply chain network present in most key art and manufacturing clusters across India such as Moradabad, Khurja, Firozabad, and Jodhpur.

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