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GenAI startup Ema nets $25 mn from Accel, Prosus, others
VCCircle
·
1y ago
Medial
Technology startup Ema, which focuses on using generative artificial intelligence (AI) on an enterprise level, has raised $25 million in funding from investors including Accel, Prosus, and Wipro Ventures. Ema's patent-pending technology automates complex workflows, aiming to boost productivity across every role in an enterprise. The startup's Universal AI Employee is designed to emulate human capabilities, engaging in conversations, comprehending context, making informed decisions, and collaborating with human employees on complex projects. The funding will help Ema scale its operations and further develop its AI-powered platform.
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With enterprise solutions, Ema AI is making space for itself in the crowded Gen AI market
YourStory
·
1y ago
Medial
Ema, an enterprise AI solutions provider, has raised $25 million in funding from investors including Accel, Section 32, and Prosus Ventures. The startup offers solutions for automating tasks such as chatbots, code generation, and design processes, aiming to streamline operations, reduce costs, and accelerate development. Ema recently launched its Universal AI Employee, which the company says will transform how enterprises work. The co-founders' impressive backgrounds and the projected market growth for generative AI in enterprises make Ema an attractive investment opportunity. However, the market is competitive, with numerous Gen AI startups vying for attention.
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Enterprise-led GenAI startup Ema secures $25 million in funding led by Accel, Prosus
Economic Times
·
1y ago
Medial
Indian startup Ema has raised $25 million in a funding round led by investors including Accel, Prosus Ventures, and Section 32. The enterprise AI firm was founded in 2023 by former Google employees Souvik Sen and Surojit Chatterjee and offers generative AI solutions for businesses. Ema plans to use the funding to develop new products and enhance its existing suite. The company's AI system, known as Ema, enables businesses to automate processes and improve productivity by engaging in conversations, taking feedback, and making informed decisions. Ema's clients include fintech firms Moneyview and TrueLayer.
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With enterprise solutions, Ema AI is making space for itself in the crowded Gen AI market
YourStory
·
1y ago
Medial
Ema Unlimited, a one-year-old enterprise AI solutions provider, has raised $25 million in funding from investors including Accel and Prosus Ventures. The company aims to streamline tasks and accelerate development processes through its Generative AI technology. Ema recently launched its Universal AI Employee, which can take on any role within an enterprise and imitate human employees. The market for generative AI in enterprises is projected to reach $1.3 trillion by 2032. Despite the crowded market, Ema has received backing from high-profile investors and has onboarded clients such as TrueLayer and Moneyview.
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Gen AI startup Ema raises $25M led by Accel, Prosus, others
IndianStartupNews
·
1y ago
Medial
Ema, a startup founded by ex-Google employees, is revolutionizing workplace productivity with its Universal AI Employee. Launched in 2023, Ema aims to streamline complex tasks by creating generative AI personas and applications. The company recently raised $25 million in funding led by Accel, Section 32, and Prosus Ventures, with participation from industry leaders such as Sheryl Sandberg. Ema's AI solution, powered by integration with various software applications and language models, has already been adopted in multiple industries for tasks including customer support and compliance. The founders bring a wealth of experience from companies like Coinbase and Okta to Ema's mission.
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AI company Ema raises $25 mn, launches next-gen enterprise solution
Thehindubusinessline
·
1y ago
Medial
Ema, a provider of generative AI solutions for enterprises, has secured $25 million in funding from investors including Accel, Section 32, and Prosus Ventures. The company has also launched an "universal AI employee" that can perform tasks across different domains, engaging in conversations, comprehending context, and making informed decisions. This AI employee is designed to enhance productivity and integration with existing enterprise apps. Ema's Generative Workflow Engine powers these AI employees, generating new workflows through conversational descriptions of problems. The company aims to transform how humans and synthetic intelligence collaborate in the workplace.
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Generative AI startup Ema raises $25 Mn from Accel, Prosus, others
Entrackr
·
1y ago
Medial
Generative AI startup Ema has raised $25 million in its first funding round led by Accel, Section 32, and Prosus Ventures. Other investors who participated in the round are Wipro Ventures, Venture Highway, AME Cloud Ventures, Frontier Ventures, Maum Group, and Firebolt Ventures. High profile angels who joined the round include Meta COO Sheryl Sandberg, Yahoo co-founder Jerry Yang and Snowflake chief executive Sridhar Ramaswamy. Ema will use the funds for research and development, and enhance its existing product suits, the company said in a press release. Founded in 2023 by Surojit Chatterjee, Souvik Sen, and Swati Trehan, Ema’s AI solutions aim to automate processes and workflows within an enterprise. The solutions work with Zendesk, OneDrive, Google Drive, Teams, Slack, and other popular productivity tools. Ema is said to be capable of engaging in conversations, comprehending context, taking continuous human feedback, reasoning, and making informed decisions. It leverages about 30 large public language models, including GPT 4, GPT-3.5-turbo, Claude 2.1, Gemini, Mistral-S and Llama2, and small in-house language models to maintain accuracy. Ema’s adaptable AI capabilities cater to a wide array of industries, including healthcare, retail, travel, hospitality, finance, manufacturing, e-commerce, technology, and more. At present, Ema has a total workforce of 30 across India and the US. Ema has scooped up the second largest funding for an early-stage startup operating in this space and has a base in India. In December 2023, generative AI startup Sarvam AI raised $41 million in a Series A round led by Lightspeed along with participation of Peak XV Partners and Khosla Ventures.
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Accel nets over $300 mn from selling Freshworks shares
The Arc Web
·
1y ago
Medial
Accel, a venture capital firm, has sold a stake of 6.7% in SaaS unicorn Freshworks over the past year, according to filings. The firm divested about 20 million shares, with an estimated return of $260 million to $500 million. Despite Freshworks' shares currently trading lower than its IPO price, Accel is still expected to make substantial profits. Accel originally invested in Freshworks in 2011 and still holds over 13% of the company, which has a market cap of $5.5 billion. Accel has also had successful exits from companies like Flipkart, realizing $1.7-1.8 billion from a $100 million investment.
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Exclusive: Telecom Startup WIOM Raises $35 Mn In Round Led By Accel, Prosus
Inc42
·
1m ago
Medial
WIOM, a telecommunications startup, raised $35 million in a funding round led by Accel and Prosus, with participation from existing investors. Founded in 2015 by Ashutosh Mishra, Satyam Darmora, Nishit Aggarwal, and Maanas Dwivedi, WIOM was initially known as i2e1, providing affordable internet services to offline retailers. After the 2020 launch of the PM-WANI scheme, it rebranded to WIOM. This round values WIOM at $200 million.
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Mukesh Bansal’s AI Venture Nets $27.5 Mn From Accel, General Catalyst, Others
Inc42
·
10m ago
Medial
Nurix AI, founded by Mukesh Bansal, has raised $27.5 Mn in seed funding from Accel, General Catalyst, and Meraki Labs. Bansal is the co-founder of Myntra and Cultfit.
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Exclusive: Gen AI startup Simplismart to raise $7 Mn led by Accel
Entrackr
·
1y ago
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.
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