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Generative AI startup Ema raises $25 Mn from Accel, Prosus, others

EntrackrEntrackr · 1y ago
Generative AI startup Ema raises $25 Mn from Accel, Prosus, others
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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Exclusive: Gen AI startup Simplismart to raise $7 Mn led by Accel

EntrackrEntrackr · 1y 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.

Gen AI SaaS startup Vodex raises $2 Mn in seed round

EntrackrEntrackr · 1y ago
Gen AI SaaS startup Vodex raises $2 Mn in seed round
Medial

Generation artifical intelligence (AI) startup Vodex has raised $2 million in its seed round from Unicorn India Ventures and Pentathlon Ventures. The funds raised will be used for global expansion and to scale their business to at least four-folds in the next one year, the company said in a press release. Co-founded by Anshul Shrivastava and Kumar Saurav, Vodex uses its Generative AI solution to craft voice conversations that closely mimic human interaction, enhancing outbound sales calls with a more personal and engaging experience. Vodex offers businesses a tool to expand their reach, qualify leads, and close deals with speed and scale, all while delivering a natural and engaging customer experience. Since 2022, Vodex claims to have empowered businesses worldwide, with calling needs in the USA and Canada regions. In the Gen AI space, Ema scooped up $25 million which is the second largest funding for an early-stage startup operating in this space. 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.

Generative AI startup Ayna secures $1.5 Mn in seed round

EntrackrEntrackr · 1y ago
Generative AI startup Ayna secures $1.5 Mn in seed round
Medial

Bengauru-based generative AI startup Ayna has raised $1.5 million in seed funding led by early stage investment platform Inflexor Ventures. The funding will be used to expand Ayna’s AI capabilities, scale its team, and accelerate its mission to make high-quality product photography accessible to businesses of all sizes, the company said in a press release. Co-founded by Aastha Rajpal and Yash Bansal, Ayna empowers brands like Reliance Retail’s Clovia, Wakefit, WomanLikeU, and others to create studio-quality product photoshoots at scale, without the need for physical photoshoots. Unlike traditional methods or basic AI solutions, Ayna’s proprietary compound foundational models (CFMs) give brands granular control over every detail of their product image. According to Ayna, its generative AI eliminates costly overhead, lengthy turnaround times, and creative limitations, allowing brands to optimize product visuals for maximum conversion. In the past six months, Generative AI startups have managed to mope up nearly $100 million. The list includes Sarvam AI, Ema, Neysa, Vodex, and KonProz, among others.

SaaS startup Simplismart raises $7 Mn in Series A funding

EntrackrEntrackr · 8m ago
SaaS startup Simplismart raises $7 Mn in Series A funding
Medial

Bengaluru-based SaaS startup Simplismart has secured $7 million in a Series A funding round led by Accel, with participation from Shastra VC, Titan Capital, and others. Entrackr exclusively reported about the funding in July this year. As per sources, the company will be valued at around $35 million. The proceeds will be used to expand research and development (R&D) initiatives and accelerate growth, Simplismart said in a press release. Co-founded in 2022 by Amritanshu Jain and Devansh Ghatak, Simplismart offers an AI-based no-code machine learning platform that allows users to train custom machine learning models using their data, powering applications and decisions without writing code. Simplismart aims to simplify AI adoption for enterprises by providing a high-performance, cost-effective platform that addresses common challenges in enterprise AI deployment, such as performance trade-offs and the complexities of standardized workflows. The startup seeks to eliminate issues related to high costs, poor ROI, data privacy, and the need for customization to avoid downtime. 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.

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