Bengaluru-based SaaS startup Simplismart has raised $7 million in a Series A funding round, led by Accel, with participation from Shastra VC, Titan Capital, and other prominent investors. This funding elevates the company’s valuation to approximately $35 million, according to insiders.
The fresh capital will be directed towards expanding Simplismart’s research and development (R&D) efforts and driving its growth trajectory. The company, co-founded in 2022 by Amritanshu Jain and Devansh Ghatak, offers an AI-based no-code machine learning platform designed to streamline AI adoption for enterprises. Its platform allows users to train and deploy custom machine learning models without needing to write a single line of code, making AI accessible to businesses without technical expertise.
Simplismart’s platform is designed to address key pain points associated with enterprise AI adoption, such as high costs, poor return on investment (ROI), data privacy concerns, and the need for customized solutions to prevent operational downtime. By focusing on performance and cost efficiency, the startup aims to reduce the complexities often encountered in AI deployment.
In July 2023, Simplismart was selected for the AWS ML Elevate program, a prestigious initiative launched by AWS and Accel to support promising generative AI startups in India. Simplismart’s inclusion in the program reflects the growing recognition of its potential to transform how businesses integrate AI into their operations.
With this new funding, Simplismart is poised to accelerate its R&D initiatives, further improve its no-code platform, and push for wider adoption across enterprise sectors, capitalizing on the increasing demand for AI-driven solutions.
