VC Fund Investments
AI-based workflow automation startup Nanonets raises $10-M from Elevation Capital
Bangalore- and San Francisco, CA (UA)-based Nanonets, an AI-based document workflow automation platform, has raised $10 million in a Series A round led by Elevation Capital. Angel investors including Amar Goel (PubMatic), Gautam Kumar and Kushal Nahata (FarEye), Krish Subramanian and Rajaraman Santhanam (Chargebee), Vara Kumar Namburu and Khadim Batti (Whatfix), Ashish Gupta (Helion), Nakul Aggarwal and Ritesh Arora (BrowserStack), and Vetri Vellore (Ally), also participated. The startup will use the funds to expand its engineering and AI/ML teams and hyper-scale its operations and go-to-market teams in new geographies. Existing investors in the company include Ashton Kutcher, Y Combinator, SV Angel, and Soma Capital. Sarthak Jain and Prathamesh Juvatkar founded Nanonets to leverage AI to make workflow automation easier for businesses. Using APIs and no-code customisation custom capabilities, Nanonets allows organisations to write their own business rules, connect to varied business data sources, and update internal systems to automate document workflows and financial controls.
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