New Delhi: AI services start-up Aivar has received $4.6 million in seed funding in a round led by Sorin Investments and Bessemer Venture Partners. This new funding is going to help the company expand its operations throughout India, the United States and Middle East.
Aivar is in the fast-growing artificial intelligence services space. The company assists businesses in enhancing their work using AI tools and automating duties and taking better decisions. Its services are used by companies in sectors such as finance, retail, healthcare and logistics.
According to the founders, the new funds will be used mainly to hire talent, upgrade technology and build out sales teams in new markets. Aivar is also planning to invest in research in order to be able to provide customers with more advanced AI solutions.
The investors said that they believe that Aivar has a strong potential because the demand for AI services is growing rapidly across the world. Many companies would like to take advantage of AI, but don’t have the skills or resources to create solutions themselves. Startups such as Aivar will help to fill this gap by offering ready to use AI services.
Experts are saying that this funding will be responsible and will be used to growing confidence in Indian AI startups. India has become an important hub for AI development, owing to its huge talent pool and tech background . . . With global expansion plans, now Aivar is aiming to compete with international AI service providers.
The company also said it wants to focus on ethical and responsible use of AI.
