Ganit raises Pre-Series A round
The new infusion of capital is slated to be used to expand its product portfolio in various spaces
AI and data analytics startup Ganit has raised an undisclosed amount as part of their pre-series A funding round. The organisation seeks to address the major challenges faced by industry leaders in a rapidly evolving business landscape where the adoption of AI technologies is now approaching ubiquity. The round was led by Sangeet Kumar, co-founder and CEO of Addverb Technologies, Krishnan Vishwanathan, co-founder and CEO, Kissht, Anshul Gupta and Amit Raj, co-founders of EatClub Brands (formerly Box8) , among others.
“The founders’ expertise on the subject combined with their passion and energy reflects in the commitment and vision they have for the company and the ecosystem. The world needs data which will just not sit in silos for various reports but will be turned into actual attainable action. Ganit has cracked the code on how to help enterprises achieve just that,” Amit Raj, Angel Investor and co-founder, EatClub Brands (formerly Box8), stated.
Ganit claims to be doubling its growth Y-o-Y consistently for the last four years, with 100% client retention. The organisation works with Fortune 1000 clients across retail, pharma, consumer products and services, and BFSI industries across several geographies. The new infusion of capital is slated to be used to expand its product portfolio in various spaces including, but not limited to – voice of customer, forecasting, promotion planning, route optimisation, price optimisation as well as fast-growing emerging areas such as ESG (environmental, social and governance). In addition to an expansive array of products, Ganit is also looking to more than double its headcount to 500 by the end of 2023. “Our single-minded purpose is to empower businesses with data-driven decision-making capabilities. Having investors who share the same passion for the business of data has been extremely rewarding,” Shivaprasad KT, co-founder and CEO, Ganit, said.
The organisation was incorporated with the aim of flipping the data science value chain. Observing organisational leaders struggle with the effective utilisation of their captured data as well as their reluctance across the board in adopting analytical solutions, Ganit aims to make data consumable more than ever before through practically built solutions, focusing on designing and deploying purpose-built AI/ML solutions to maximise decision-velocity and minimise decision-risk across industries. The product of years of research and industry experience, Ganit was founded in 2017 by three veterans of the Data Science industry – Shivaprasad KT, Ashok Harwani and Hariharan R.