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AI-platform E42 scoops up $5.4 m in series-A round

AI-platform E42 scoops up $5.4 m in series-A round

Funding News

AI-platform E42 scoops up $5.4 m in series-A round

Pune-based Light Information Systems, which offers artificial intelligence-based solutions under the brand name of E42, has raised USD 5.4 million (around Rs 40.4 crore) led by Pavestone Ventures in series-A round.

E42 is a natural language processing-based AI platform developed by Light Information System and its platform can be used to create AI coworkers that automates complex people – and process-centric functions towards time, energy, resource, and cost optimization. The funds will be deployed to boost R&D, build their partner ecosystem, and engage businesses globally, the company founded in 2012 by Animesh Samuel and Sanjeev Menon said.

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The E42 platform has been recognised by industry giants like Microsoft, SAP, Oracle, IDC and Nvidia industry associations like Nasscom and SaaSBhoomi. Animesh Samuel, chief executive of Light Information System said the funding will help them strengthen research and partner ecosystems and scale up and better serve enterprises across geographies.

Sridhar Rampalli, managing partner at Pavestone Ventures said, the need for end-to-end process automation has never been greater as AI-led enablement and automation across enterprises is maximising efficiencies and scalability while minimizing complexities and costs.

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  1. Pingback: SMEs at risk of huge losses if coal crisis confronting primary aluminium industry not addressed: IIVCC

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