[Funding alert] Data Science startup Obviously AI raises undisclosed amount led by Arka Venture Labs
Data science platform Obviously AI has raised an undisclosed amount from Arka Venture Labs. Arka Venture Labs is known to invest nearly $500k in startups, and participates in Pre-Series A rounds.
San Francisco-based Obviously AI said it is planning to ramp up its sales with the latest funding round.
Founded in 2018, it aims to make data science effortless by enabling users to run complex data predictions and analytics by asking questions in natural language with no code, no special training, and all in less than a minute.
“We realised that businesses often cared about getting decision making insights about their customers, products, and its usage. But often had to wait for weeks on a data engineer to get a single question answered,” says Nirman Dave, Co-founder and CEO, Obviously AI.
Obviously AI uses state-of-the-art natural language processing to break apart a question, interpret it and find the right data. It then runs machine learning algorithms parallelly to make predictions, and finds the right algorithm for your dataset. It finally identifies top attributes that impact the outcome you are trying to predict and delivers accurate reports.
The platform is ideal for a range of small and medium businesses (SMBs) or small departments of larger companies.
For example, in retail, the software can optimise assortments, predict inventory burn or forecast staffing. For healthcare companies, it can assist administrators to predict and prevent hospital readmissions, predict which patients are less likely to adhere to prescribed drug regimen, and create the right intervention plan to increase medication adherence as well as help predict appointment no-shows.
The platform is also useful in sectors like insurance, marketing, banking, gaming, and SaaS. It is available for free, and also has Pro and Pro Plus versions.
“We have been on a mission to make data science effortless just by asking questions. It’s amazing what marketers, salespeople, and other non-technical business users can learn when they use our platform,” says Tapojit Debnath, Co- founder and CTO, Obviously.AI.
Arka Venture Labs is a cross-border accelerator fund that has been launched with three VC firms - Blume Ventures, Benhamou Global Ventures (BGV), and Emergent Ventures - coming in as Anchor LPs. Arka Labs provides founders with a combination of seed capital, mentoring, access to Silicon Valley ecosystem, and infrastructure support.
They are open to B2B startups with a strong potential in the US, backed by strong core technology and economic differentiators.
“The market potential for Obviously.AI in the SME space is immense, and we liked the manner in which Nirman and Tapojit solved the machine learning problem for them,” says Radhesh Kanumury, Managing Partner, Arka Venture Labs.
(Edited by Megha Reddy)