Gnani.ai Secures Rs 30 Crores from Info Edge Ventures to Expand AI Platform
Bangalore (Karnataka) [India], July 31: India’s venture capital landscape is showing maturity despite challenges. Gnani.ai, a voice-first generative AI company, has secured an investment of Rs 30 crores from Info Edge Ventures in a Series A funding round.
Founded in 2016 by Ganesh Gopalan and Ananth Nagaraj, Gnani.ai leverages their experience from tech giants like Texas Instruments, IBM, and Aricent to create a unique generative AI platform. The new capital will be used to drive sales growth and expand Gnani.ai’s business across new geographies.
Over the past six months, Gnani.ai has helped financial institutions collect over USD 2 billion from their end customers. The company has grown exponentially, securing more than 100 enterprise customers in India and the US.
Founders Ganesh Gopalan and Ananth Nagaraj expressed their excitement, saying, “We are thrilled to welcome Info Edge Ventures to our journey. This investment will significantly bolster our efforts to expand our sales footprint.”
Chinmaya Sharma, Partner at Info Edge Ventures, added, “We are excited to invest in Gnani.ai. It exemplifies our investment thesis for AI, solving real problems rather than just finding use cases for AI.”
Despite a decline in venture capital funding in India, with a drop from USD 25.7 billion in 2022 to USD 9.6 billion in 2023, India remains the second-largest destination for VC and growth funding in the Asia-Pacific region. Funding in companies like Gnani.ai reflects a positive outlook for India’s private equity and venture capital market this year.
Doubts Revealed
Gnani.ai -: Gnani.ai is a company that makes smart computer programs that can understand and talk using human voices. They focus on creating technology that can generate speech and understand spoken words.
Rs 30 Crores -: Rs 30 Crores is a large amount of money in Indian currency, equivalent to 300 million rupees. It’s a way to show how much money the company received.
Info Edge Ventures -: Info Edge Ventures is a company that invests money in other companies to help them grow. They provide financial support to businesses they believe have a lot of potential.
Series A funding -: Series A funding is the first big round of money that a company raises from investors to help it grow. It’s like getting a big loan to make the business bigger and better.
Ganesh Gopalan and Ananth Nagaraj -: Ganesh Gopalan and Ananth Nagaraj are the people who started Gnani.ai. They are the founders and are responsible for creating and running the company.
venture capital funding -: Venture capital funding is money that investors give to new or growing companies. These investors hope the companies will become very successful and make a lot of money.
enterprise customers -: Enterprise customers are big companies or organizations that buy products or services from another company. In this case, over 100 big companies use Gnani.ai’s technology.
financial institutions -: Financial institutions are places like banks and other companies that deal with money. They use Gnani.ai’s technology to help them collect money and manage their finances.
USD 2 billion -: USD 2 billion is a huge amount of money in US dollars. It shows how much money Gnani.ai has helped financial institutions collect in the past six months.
