Tuesday, April 16, 2024
Outlook.com
Outlook India
Outlook Business

EaseMyAI Raises Rs 1.8 Crore In Seed Round Led By Inflection Point Ventures

The funds raised by EaseMyAI will be utilised for product development and working capital

EaseMyAI Raises Rs 1.8 Crore In Seed Round Led By Inflection Point Ventures

Outlook Start-Up Desk

POSTED ON March 01, 2023 3:41 PM

EaseMyAI raised Rs 1.8 crore in a seed round led by Inflection Point Ventures (IPV). Started with an aim to develop innovative products with artificial intelligence (AI) adoption, EaseMyAI emphasises on creating simple, user-friendly products with drag and drop options to empower businesses to customise their solutions. This approach can help make AI more accessible to businesses of all sizes and sectors. 

EaseMyAI has developed a product specialising in the automation of operations and processes, which is scalable and easy to deploy. The company has filed a patent for an AI-based operating system. This will help businesses streamline their operations and improve their efficiency through automation, reducing costs, increasing productivity, and enhancing the quality of their services.

“EaseMyAI is tapping into this segment and is at the forefront of tech adoption using its Computer vision and AI solutions across sectors thus accelerating rapid AI adoption. Their solutions and the platform is highly scalable and empowers companies with much smaller operations or even large ones with legacy systems to be next-gen tech ready thereby helping them grow faster,” said Madhukar Bhardwaj, vice president, business development and investments, Inflection Point Ventures.

EaseMyAI provides this Robotic Process Automation (RPA) using computer vision and AI to automate repetitive tasks and reduce dependency on manpower. In Robotic process automation, AI has the decision-making power, making the platform effectively manage operations and compliance.

"We are working on a smart centralized platform that helps customers to automate and monitor all processes online. IPV is more like a partner in growth where they not only helped us with funding but helped us in planning market strategy and connecting to potential business owners and made our journey relatively easier,” observed Gagan Randhawa, chief executive officer (CEO), EaseMyAI.

Al in the computer vision market is estimated to grow from $15.9 billion to $51.3 billion by 2026, at a CAGR of 26.3 per cent. The growing need for quality inspection and automation, increasing demand for computer vision systems in non-traditional and emerging applications, and rising need for ASICs are the key factors driving the growth of the market.

  • Related Articles

    He answers emphatically when asked if rivals are out to malign him and Sequoia Capital. Stung by controversies in their portfolio companies, Shailendra Singh told Outlook Business that the black...

    Shailendra Singh: We Are Not Here To Win A Popularity Contest

    Presently, Arvind Kathpalia is a director on the board of Multi Commodity Exchange (MCX)

    actyv.ai Appoints Arvind Kathpalia As Advisor, To Accelerate Future Growth

    The investment company has already backed SaaS start-up Olvy and pharmaceutical billing software provider Localwell

    Grayscale Ventures Raises $10 Million For Micro-Fund Targeting Pre-Seed AI, SaaS Start-ups