AI startup EaseMyAI gets Rs 3 crore seed funding from Inflection Point Ventures

EaseMyAI, an artificial intelligence and automation-as-a-service platform, has received Rs 3 crore in a seed round from Inflection Point Ventures (IPV), the company announced on Thursday, September 21.

The startup plans to use the funds for product development, recruiting a sales and marketing team, and expanding its distributor network, it said in a press note.

"EasemyAI’s end-to-end solution allows businesses to deploy AI-based operating systems to automate their operations and processes. This creates a huge growth opportunity for large and small companies to focus on the core business and eliminate the manual work with the EasemyAI platform. Their Business Model is highly scalable and IPV will support them to expand their services geographically with a strategic approach," said Madhukar Bhardwaj, senior vice president, Inflection Point Ventures.

EaseMyAI was founded in 2022 by Gagan Randhawa, Yaman Bharadwaj, Surendra Sancheti, and Jekin Dedhia. The company assists businesses in automating operations that were previously done manually, hence eliminating the potential for errors. It employs modern technologies such as artificial intelligence to comprehend and use data from various sources such as images and sensors. In the textile industry, for example, AI is used to detect and automatically repair fabric problems.

EaseMyAI operates on a global scale with a distributor network spanning Sri Lanka, Bahrain, UAE, Netherlands, Singapore, and Japan. The company said that it is actively planning to establish collaborations in the USA market, demonstrating its commitment to expanding its reach and impact.

“AI and IoT-based automation will drive the industry 4.0 and dark warehouses. EasemyAI automation platform smoothens the digital transformation journey of enterprise where the platform is capable of handling AI models, IoT devices and 3rd party software," said Gagan Randhawa, CEO, EaseMyAI.

IPV's recent investments and exits

IPV is an angel investing platform through which more than 8,600 CXOs, HNIs, and professionals invest together in startups. In March this year, IPV announced the launch of a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage start-ups.

Last month, it invested in 13SQFT.com, a B2B digital platform. Some of its recent investments include in  the startups like Shipease, Bizpay, Metashot, and Wallter Systems among others.

Meanwhile, IPV recently exited its investment from Koovers last week with 47 per cent IRR. The exit comes at the back of Koovers acquisition by German automotive giant Schaeffler India for over Rs 142 crore. Last year, it made exits from 12 companies.