1, Mar 2023
EaseMyAI raises Rs 1.8 Cr in Seed Round led by Inflection Point Ventures
1st, March 2023, Mumbai: EaseMyAI raised Rs 1.8 Cr in a Seed round led by Inflection Point Ventures (IPV). Started with an aim to develop innovative products with AI adoption, EaseMyAI emphasizes on creating simple, user-friendly products with drag & drop options to empower businesses to customize their solutions. This approach can help make AI more accessible to businesses of all sizes and sectors.
EaseMyAI has developed a product specializing in the automation of operations and processes, which is scalable and easy to deploy. The Company has filed a patent for an AI-based operating system. This will help businesses streamline their operations and improve their efficiency through automation, reducing costs, increasing productivity, and enhancing 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 provides this Robotic Process Automation (RPA) using computer vision and AI to automate repetitive tasks and reduce dependency on manpower. In Robotic process automation, AI has the decision-making power, making the platform 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.”
Al in the computer vision market is estimated to grow from $15.9 billion to $51.3 billion by 2026, at a CAGR of 26.3%. The growing need for quality inspection and automation, increasing demand for computer vision systems in non-traditional and emerging applications, and rising need for ASICs are the key factors driving the growth of the market.
EaseMyAI has catered to over 30 clients with some marquee names like Hitachi, Ericsson, Mundra Port, ICICI Bank, Standard Chartered Bank, and Treasure Inc. (a Japanese entity). Raising funds for growth, they are planning to further expand catering clients in Sri Lanka, UAE, Japan, and Singapore directly and the rest of the world through partners.