Stelae Technologies, a Chennai and Bangalore based software product company has raised a pre-series A funding from Earlsfield Capital, UK, Saha Fund and former Infosys veteran Mohandas Pai and Cross Border Angels and are thus leading in the first round of funding.
The company which has patent pending software Khemeia™ detects content elements in documents like the human eye, using artificial intelligence based pattern recognition and content analyses algorithms.
The software Khemeia™ has won many accolades. Some of them being the Nasscom Emerge 10 award in 2015, the IBM Global Entrepreneur Award in India & Asia Pacific and the software was among the 9 Global Finalists in 2014, Winner of TechSparks 30 in 2013. Khemeia™ has processed over 10 million pages of content for customers like Rolls Royce Aerospace (UK), DCNS (France), Wolters Kluwer (US), Deutsche Bank (UK) and for a large defence customer in India.
The funds will be used to scale up the delivery operations of the company and increase the breadth of technology partners world-wide, building on the prestigious customer references already acquired.
The founders of the company are Aruna Schwarz, the CEO who is based in Bangalore, Maria Shiao , VP of Business Development based in London, Pierre Fraisse, CTO, based in Lyon and Sandeep Raizada, VP Operations based in Bangalore.
‘We are delighted to be leading the round for this very exciting and growing business.’ said Sumeet Pillai, Founding Partner at Earlsfield Capital. ‘The Enterprise B2B big data sector remains a high growth space, and Khemeia™ is a product platform built to scale globally and across sectors, as it transforms the ability of enterprises to utilise data that was previously inaccessible or difficult to convert. As backers of high-growth Indian businesses, we look forward to drawing upon our international experience to help Stelae scale and continue pushing the barriers.’
Talking about women development, Ankita Vashistha, founder and CEO of Saha Fund said “we are investing in the best women talent in the country that are creating services and products leveraging technology to scale up. Aruna and Stelae are perfect examples of this. With the use of artificial intelligence and smart algorithms, Khemeia™ is able to provide information management solutions to multiple industries. We are very excited to be part of Stelae’s growth journey”.
