[Funding alert] AI enterprise data platform Resonance raises undisclosed investment from IP Ventures
Smart enterprise data platform Resonance on Wednesday raised an undisclosed amount in angel funding from IP Ventures.
The company will use the funds to hire talent for its engineering team and focus on expanding its sales footprint in international markets.
Commenting on the investment, Rantej and Shishir, Founders of Resonance, said,
"IPV helped provide with detailed feedback from senior industry leaders, which has greatly helped us in focussing on our strengths and addressing the gaps. IPV has opened many business development opportunities through its networking events."
Founded in 2017 by Shishir Kapoor and Rantej Singh, and later joined by Som Dutta, Resonance is an applied Artificial Intelligence (AI) and smart data assistance provider.
The company’s flagship product Rene is a mobile phone-based AI platform that captures and analyses unstructured sales and client data available within the company's internal systems like emails, calendars, CRM systems, and externally on the world wide web. Rene also empowers business teams to capture insights from meetings using voice notes.
With an R&D team in Gurugram, the startup’s differentiator is in its proprietary AI tech for deep mining of internal and external sources of structured and unstructured data to identify intelligent threads of relationships, generating an unprecedented level of actionable insights.
At present, Resonance has clients in the US and South-East Asia.
IPV angel investor Manoj Sohoni added,
“Rene’s algorithm captures natural or written conversations and translates it into structured logical data. It also has the capability to interface data with multiple sources and data platforms. Rene generates powerful insights using AI, which then can drive enormous productivity, raise sales effectiveness, create highly personalised services, enable new services, markets or geographies.”
Manoj further added that Rene, as a business assistant, has huge market potential and path-breaking applications in industries such as banking, financial services, insurance, and retail.
IP Ventures was founded in 2017 by CFOs and finance professionals who come belong to the startup ecosystem, and have led their organisations through various stages of funding.
(Edited by Saheli Sen Gupta)