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SaaS startup Simplismart raises $7 Mn in Series A funding
Entrackr
ยท
9m ago
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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Simplismart, Budy.bot, ANNY and Agnit raise early-stage funding
VCCircle
ยท
9m ago
Medial
Sales and marketing software developer Budy.bot, tech startup Simplismart, fashiontech startup ANNY, and semiconductor startup Agnit have all raised early-stage funding. Simplismart secured $7 million in a Series A funding round, Budy.bot raised $4.2 million in a seed round, Agnit raised $3.5 million in a seed round, and ANNY raised an undisclosed amount in a seed round. The funds will be used for research and development, growth, enhancing AI capabilities, scaling production and operations, and expanding into new market segments.
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Exclusive: Gen AI startup Simplismart to raise $7 Mn led by Accel
Entrackr
ยท
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. โAccel is leading $7 million round in Simplismart with backing from existing investors,โ said a source requesting anonymity. โSimplismart has received the term sheets and the deal is set to be public soon.โ Simplismart previously raised seed money from Anicut Capital, Sunn91, First Cheque and Shastra VC but it didnโt 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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Simplismart Bags $7 Mn To Simplify AI Adoption For Enterprises
Inc42
ยท
9m ago
Medial
Simplismart, a startup in the AI space, has raised funding in a round led by Accel. Other participants include Shastra VC and Titan Capital. The company plans to use the funds to support its research and development efforts and fuel its growth. Simplismart offers a platform that helps enterprises streamline AI adoption, offering a combination of high performance and cost-effectiveness. The company was founded in 2022.
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SaaS startup Kapture CX raises $4 Mn to automate customer support operations
Inc42
ยท
1y ago
Medial
Bengaluru-based B2B SaaS startup Kapture CX has closed its Series A funding round at $4 million, led by Indian private equity fund India Alternatives. Kapture CX offers AI-enabled customer relationship management (CRM) software, allowing companies to engage with customers across various channels. The funding will be used to expand globally and enhance product capabilities, with a focus on AI technology for improved customer experiences. Kapture CX has already expanded operations to the US, UAE, Indonesia, and Saudi Arabia and has over 1,000 customers from 19 countries.
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B2B SaaS startup Leucine raises $7 million in funding led by Ecolab
Economic Times
ยท
1y ago
Medial
B2B SaaS startup Leucine has raised $7 million in funding, with Ecolab leading the investment round. Leucine aims to use the funding to further develop its cloud-based software platform, which helps organizations manage chemical inventory and compliance. The company plans to expand its market presence and enhance its product offerings with the raised funds.
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Cybersecurity Startup WhizHack Raises $3 Mn At $100 Mn Valuation
Inc42
ยท
1y ago
Medial
WhizHack, a startup, recently raised $3 million in funding at a valuation of $40 million. The company plans to use the capital to further invest in research and development through partnerships with universities in India and the US. Additionally, WhizHack is preparing to raise a larger Series A round of funding in early 2025.
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Bare Anatomy parent Innovist raises $7 Mn from Amazon Smbhav Venture Fund, others
Inc42
ยท
1y ago
Medial
Innovist, the parent company of D2C consumer brands Bare Anatomy and Chemist at Play, has secured $7 million in a Series A funding round led by Amazon Smbhav Venture Fund. Other existing investors, including 72 Ventures, the family office of Nykaa founder Falguni Nayar, and former KKR India head Sanjay Nayar, also participated in the round. The funds will be used for product innovation, market expansion, and team building. Innovist raised $3.5 million in a pre-series A funding round last year and has garnered over $13 million in total funding.
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Healthcare-focused SaaS unicorn Innovacer raises $275 mn in Series F
VCCircle
ยท
7m ago
Medial
Innovacer, a healthcare-focused SaaS unicorn, raised $275 million in Series F funding from investors including Tiger Global, B Capital Group, and Microsoftโs M12. About 35% is secondary capital for early investor exits. Founded in 2014, Innovacer's platform integrates healthcare data, providing unified patient records. The funds will enhance AI capabilities and scale the developer ecosystem. Innovacer, growing over 50% annually, previously raised $675 million across multiple funding rounds.
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Inflexor-backed Kale Logistics raises $30 Mn in Series B
Entrackr
ยท
1y ago
Medial
Kale Logistics has secured $30 million in a Series B funding round led by Creaegis Advisors. The logistics-focused SaaS company previously raised $5 million in a Series A round in June 2020. The company's flagship product, the 'Cargo Community Platform,' streamlines cargo logistics processing at airports, seaports, and customs checkpoints. The funds will be used to expand its presence in the US and Europe. In FY22, the company reported revenue of INR 52.63 crore and was profitable. Competitors include LetsTransport, Locus, and Cogoport.
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Cybersecurity asset management startup Axonius raises $200M led by Accel, Lightspeed
IndianStartupNews
ยท
1y ago
Medial
Cybersecurity asset management and SaaS management startup, Axonius, has raised $200 million in a Series E extension funding round led by Accel and Lightspeed Venture Partners. The funding will be used to support the company's global expansion and innovation in response to the increasing demand for its platform. Axonius provides a unified platform for managing digital infrastructure components, boasting over 1,000 platform integrations and offering a comprehensive view of assets, relationships, and business context. The company recently launched its Axonius 6.0 platform, which combines Cyber Asset Attack Surface Management, SaaS Security Posture Management, and SaaS Management Platforms.
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