Bengaluru-based SaaS startup Simplismart has successfully raised $7 million in a Series A funding round led by Accel, alongside additional investments from Shastra VC, Titan Capital, and other investors. Founded in 2022 by Amritanshu Jain and Devansh Ghatak, Simplismart offers an AI-based no-code machine learning platform that aims to simplify AI adoption for enterprises. This funding will enable the company to expand its research and development (R&D) initiatives and accelerate its growth trajectory, enhancing its ability to provide efficient AI integration solutions designed to streamline application and decision-making processes.
Simplismart’s platform allows users to train custom machine learning models using their own data without the need for any coding expertise, addressing several common challenges in enterprise AI deployment such as performance trade-offs, complex standardized workflows, high costs, poor return on investment (ROI), data privacy issues, and downtime caused by customization needs. By offering a high-performance and cost-effective solution, Simplismart aims to make AI integration more efficient and affordable for businesses, ensuring smoother and more manageable deployment processes. This focus aims to help enterprises leverage AI for greater operational efficiency and strategic decision-making.
Entrackr had reported on this funding round in July 2023, noting that Simplismart’s valuation would be around $35 million as a result of this investment. The company’s inclusion in the AWS ML Elevate program, which launched in July 2023 and selected 35 generative startups from India, underscores its potential and strengths in the AI and machine learning space. This recognition reflects the startup’s growing influence and capability in delivering innovative solutions for enterprise AI needs.
In summary, Simplismart is focused on making AI more accessible and efficient for enterprises through its no-code platform that mitigates traditional deployment challenges. The influx of new funding will bolster their R&D efforts and support continued growth, helping them cement their position in the competitive SaaS market. The company’s progress and recent inclusion in prestigious programs underline its promise and potential to drive significant advancements in AI integration for enterprises.