Simplismart has lately secured $7 million Series A funding led by Accel and the move signals financial success for the Bengaluru-based SaaS startup. Valuation of the company is now moved up to $35 million and it is now being considered as a key player in making AI more accessible to enterprises. The funding round was simultaneously also supported by notable investors like Shastra VC and Titan Capital.
Simplismart was founded by Amritanshu Jain and Devansh Ghatak in 2022. It offers solutions to enterprises in adopting AI comfortably. Many organizations are eager to deploy AI but they are often slowed by high costs, lengthy development cycles and need for technical expertise. The approach allows companies to train custom machine learning models without writing code. The startup is reshaping the enterprise AI deployment space.
The fresh funding is learned to be used in accelerating research and development (R&D) efforts. The company is expected to focus on refining performance and scalability. The mission is to simplify AI for businesses by overcoming concerns like poor ROI and data privacy concerns. Simplismart is definitely standing out and setting itself apart from the competition. It is believed to deliver good results without compromising with the usability.
The inclusion of startup in the AWS ML Elevate program in 2023 is an initiative that is designed to support AI startups in India. Simplismart’s recognition among the top 35 generative AI startups selected by AWS and Accel showcases its alignment with global tech trends.
This is the world where AI adoption is often fraught with challenges. The vision of Simplismart to democratize machine learning is timely and important too.
