Ganit Raises Undisclosed Amount In Pre-Series A FundingThe fund raised will be used to expand the company's product portfolio in various spaces

ByTeena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Ganit, an AI and data analytics startup, has raised an undisclosed amount in pre-Series A funding round, led by Sangeet Kumar (co-founder and CEO of Addverb Technologies), Krishnan Vishwanathan (co-founder and CEO, Kissht), Anshul Gupta and Amit Raj (co-founders of Eatclub Brands), among others. The fund raised will be used to expand the company's product portfolio in various spaces including, but not limited to voice of customers, forecasting, promotion planning, route optimization, price optimization as well as fast-growing emerging areas such as environmental, social and governance.

“我们正兴奋的dat的可能性a analytics and AI ecosystem and their impact on various industries. Our single-minded purpose is to empower businesses with data-driven decision-making capabilities. Having investors who share the same passion for the business of data has been extremely rewarding," said Shivaprasad KT, co-founder and CEO, Ganit.

Founded in 2017 by Shivaprasad KT, Ashok Harwani and Hariharan R, Ganit aims to make data consumable more than ever before through practically built solutions, focusing on designing and deploying purpose-built AI/ML solutions to maximize decision-velocity and minimize decision-risk across industries.

Ganit has been doubling its growth year-on-year consistently for the last 4 years, with 100 per cent client retention. The organization continues to work with Fortune 100 clients across retail, pharma, consumer products and services and BSFI industries. In addition to an expansive array of products, Ganit is also looking to more than double its headcount to 500 by the end of 2023, the company claimed in a statement.

"We are excited about our association with Ganit. The team's expertise on the subject combined with their passion and energy reflects in the commitment and vision they have for the company and the ecosystem. Ganit has cracked the code on how to help enterprises achieve just that. We are happy to be part of this story," said Amit Raj, angel investor and co-founder, EatClub Brands.

According to international data corporation, the artificial intelligence market in India is expected to grow at a five-year CAGR of 20.2 per cent and reach $7.8 billion in total revenue by 2025. Industry experts also suggests that data science and AI could contribute up to $15.7 trillion to the global economy in 2030.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

Related Topics

Growing a Business

The CEO of Kitchen United Says This Is His Most Essential Business Tool

Kitchen United CEO Atul Sood discusses the power of relationships, communicating with authenticity, and sharing your struggles with others.

Business Ideas

How Great Leaders Communicate Their Vision

Expand your leadership capacity by learning how to gain buy-in and consensus and move projects forward despite any challenges that may arise.

Growth Strategies

Aatmanirbhar Bharat: How Boeing Is Strengthening Its Make In India Footprint

Catering to Make In India, domestic demand for aircraft, partnering with MSMEs, setting up an assembly plant in India and strengthening up defense ties are some of Boeing's immediate action plans in India

Travel

October Only! This CARSULE Pop-Up Car Cabin Is Just $299.97

The discount is good for a limited time (regularly $379), so act fast.

News and Trends

Collaborative Commerce Platform Oyela Raises INR 144 Million in Seed Funding

Founded by Rahul Gope and Anjan Kumar Patel in 2021, the start-up aims to empower budding entrepreneurs, businesses, artists and creators by easily setting up and managing their digital storefronts.

Living

Many Parents Make This Fatal Mistake When Praising Their Kids, Warns a Psychologist Who Studies Success

In 'Mindset: The New Psychology of Success,' psychologist Carol Dweck reveals the right way to recognize children's accomplishments for long-term success.