NimbleBox.ai Raises $1 Mn Seed Funding Led By Venture Catalysts The funding will be utilized to deliver the company's fast-moving product development roadmap, customer base expansion, and hiring drive
By Prabhjeet Bhatla •
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NimbleBox.ai, a Techstars portfolio company aiming to build and provide a complete toolkit for developers focused on artificial intelligence, announced on Tuesday to have raised $1 million in a seed round led by an integrated startup incubator and accelerator Venture Catalysts. The round also saw participation from The Chennai Angels, Nanavati Family, and Astarc Ventures.
The funds will be used to grow the team, deliver on the product roadmap, and scale the company's existing customer base.
"The investment pitch of NimbleBox.ai demonstrated the massive business opportunity which needed to be addressed by building a cutting-edge tech product in the AI space," said Amit Nanavati, lead investor, Venture Catalysts. "This, coupled with the clarity of vision, capability, and passion of the founding team, made our decision to invest a no-brainer."
Founded by Anshuman Pandey, Rohan Pooniwala, and Naman Maheshwari in 2018, the Chennai-based startup's platform-as-a-service (PaaS) offering helps data scientists and machine learning practitioners around the world discover, create, and launch multi-cloud applications on an intuitive browser-based platform.
The full-stack MLOps platform is purpose-built for large datasets and supports all major machine learning frameworks, enabling developers to train and deploy at scale while maintaining accuracy. The startup also facilitates software developers who are looking to upskill themselves in the field of AI. The platform is currently catering to over 10,000 developers in more than 30 countries, as well as enterprises across the globe like Intel, UpGrad, Holberton School, and Tata Consultancy Services.
"Every member in the NimbleBox.ai team is highly qualified, bringing in a lot of complementary skills and expertise," shared Sivadas R, investment director, The Chennai Angels. "Being extra in emely bullish in the adoption of AI, we are delighted to be a part of the company's journey to reduce the barrier to entry in the field."
The seamless programming and deployment experience offered by NimbleBox.ai's platform, combined with an expanding repository of updated industry projects, enables employees to specialize in the segments they operate in with ease. Besides tech enterprises, cohort-based edtech companies and institutions also leverage the collaborative features of the platform as an online lab for their learners.
"This fundraise is at an exciting time as we are on an exciting growth journey and have experienced a massive 200 per cent increase in our annual revenue," added Anshuman Pandey, chief executive officer, NimbleBox.ai.
