Workflow automation firm Nanonets raises $29-M from Accel, others

AI-based workflow automation platform Nanonets has raised USD 29 million in a Series B round led by Accel India with participation from existing investors Elevation Capital, YCombinator and others. The fresh capital will be invested in the startup’s R&D to improve its algorithms that particularly tackle unstructured data and launch new products. A part of the funding will also go into scaling up the marketing and sales efforts of the startup.Bengaluru and California-based Nanonets was founded in 2017 by Sarthak Jain and Prathamesh Juvatkar. In Oct 2021, it had raised USD 10 million in a Series A investment round led by Elevation Capital.