Gen AI startup Simplismart raises Raise $7 million in funding: Report

Bengaluru-based generative AI startup Simplismart has reportedly raised $7 million in a funding round led by Accel.

Prior to this, the startup raised seed funding from investors like Anicut Capital, Sunn91, First Cheque, and Shastra VC. According to Entrackr's report, the round values Simplismart at around $35 million.

What does Simplismart do?

Founded in 2022 by Amritanshu Jain and Devansh Ghatak, Simplismart focuses on enabling businesses to build scalable, production-grade AI systems without the need for writing code.

The startup's online platform allows both amateurs and experts to collaboratively train and monitor machine learning models on various types of data and use cases.

The startup is expected to use the raised capital to further develop its technology, scale operations, and expand its team.

The financing will also accelerate the company's go-to-market strategy and expand its customer base across various industries.

It aims to enhance its marketing and sales efforts to demonstrate the capabilities of its generative AI solutions, which are designed to automate tasks, reduce costs, and improve operational efficiency.