Nanonets, the AI-based workflow automation platform, secures $29 million (INR 240 Cr) in Series B funding. Accel leads the round, joined by existing investors such as Elevation Capital and YCombinator, marking another milestone for the company.
- Innovative Offerings: Founded in 2017 by Sarthak Jain and Prathamesh Juvatkar, Nanonets facilitates workflow automation using AI, enabling enterprises to digitize documents, validate information, and execute decisions without human intervention.
- Total Funding Surpasses $40M: With this latest injection of capital, Nanonets’ total funding hits over $40 million, underlining investor confidence in its innovative approach to automation.
- Investment Focus: Nanonets plans to channel this fresh funding towards research and development initiatives, particularly in enhancing algorithms for handling unstructured data and introducing new product offerings to the market.
- Continued Investor Confidence: This Series B funding comes on the heels of a successful Series A round in 2022, where Nanonets raised $10 million led by Elevation Capital, further solidifying investor confidence in the company’s potential.
Nanonets’ latest funding round not only signifies another milestone for the company but also underscores the growing importance of AI-driven automation solutions in today’s business landscape. With continued innovation and strategic expansion efforts, Nanonets is poised to further disrupt the realm of workflow automation.
