AI Startup EaseMyAI secures Rs 1.8 Cr in Seed Round led by Inflection Point Ventures
– EaseMyAI is an AI and Automation platform that offers Robotic Process Automation using Computer Vision and Artificial Intelligence to businesses of all sizes and sectors.
– The raised funds will be utilized for product development and working capital.
– They have filed a patent for an AI-based operating system.
– Inflection Point Ventures (IPV) has invested over INR 550 Cr across 170+ deals.
March 1, 2023, Mumbai: EaseMyAI, a startup focused on developing innovative products with AI adoption, has successfully raised Rs 1.8 Cr in a Seed round led by Inflection Point Ventures (IPV). The startup’s primary goal is to create simple, user-friendly products with drag & drop options that can be customized by businesses of all sizes and sectors. This approach can help make AI more accessible to businesses and increase adoption rates.
EaseMyAI has developed a scalable and easy-to-deploy product that specializes in automating operations and processes. The company has even filed a patent for an AI-based operating system that can help businesses streamline their operations, increase efficiency through automation, reduce costs, and enhance the quality of their services.
Madhukar Bhardwaj, VP, BD & Investments Inflection Point Ventures, says, “Majority of the companies, be it small or large, use CCTV or physical staff to do manual monitoring of safety, compliance and operations which is prone to error, cost ineffective and not scalable. 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.”
EaseMyAI utilizes computer vision and AI to provide Robotic Process Automation (RPA) that automates repetitive tasks and reduces the reliance on manual labor. With AI handling decision-making processes in RPA, EaseMyAI’s platform can effectively manage operations and compliance.
Gagan Randhawa, CEO, EaseMyAI, says, “Our vision is to create a family of tools so that enterprise customers can quickly & easily go for process automation. We are working on a smart centralized platform that helps customers to automate and monitor all processes online. If you want to get something done, first do it on your own and create an example for the team. 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.”
The computer vision market is projected to experience significant growth, reaching $51.3 billion by 2026 at a CAGR of 26.3%. The market is being driven by an increased need for quality inspection and automation, rising demand for computer vision systems in emerging and non-traditional applications, and a growing need for ASICs.
EaseMyAI has provided services to more than 30 clients, including well-known companies such as Hitachi, Ericsson, Mundra Port, ICICI Bank, Standard Chartered Bank, and Treasure Inc., a Japanese entity. The company is now seeking funding for expansion and plans to directly cater to clients in Sri Lanka, UAE, Japan, and Singapore, as well as the rest of the world through partners.