VC Fund Investments
Document AI startup Docsumo raises $3.5 M from Common Ocean, Fifth Wall, others
Singapore- and Mumbai-based Docsumo, a document AI startup that helps enterprises make automated decisions from customer documents, has raised USD 3.5 million in seed capital. The round was led by Common Ocean with participation from Fifth Wall, Arbor Realty Trust, and existing investor Better Capital. The startup plans to use the fresh funds to expand its client-base in the North American market and grow the team. Founded in Jan 2019, by Rushabh Sheth and Bikram Dahal, Docsumo helps enterprises capture, validate & analyse data from unstructured documents for automated decisions. Over the last 12 months, it claims to have grown it's team in Mumbai, India and Kathmandu, Nepal, experiencing a 6X revenue increase. It currently services enterprises in the US, EU, and Asia. Docsumo was part of the Techstars London accelerator in 2020 and had raised a pre-seed round from Barclays, Sequoia, Jiten Gupta of Jupiter Money & Amrish Rau of Pine Labs.
From the Venture Intelligence Angel Investments Database: In Aug-20, DocSumo raised funding from Vaibhav Domkundwar.
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