[Funding alert] MLOps platform NimbleBox.ai raises $1M in seed round led by Venture Catalysts
NimbleBox.ai, a Techstars portfolio company aiming to build and provide a complete toolkit for developers focused on artificial intelligence, on Tuesday raised $1 million in its seed round led by Venture Catalysts. The round also saw participation from The Chennai Angels, Nanavati Family, and Astarc Ventures.
According to the official statement, the funds will be used to grow the team, deliver on the product roadmap, and scale the company’s existing customer base.
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.
Founding team of NimbelBox.ai
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, claims the startup.
The platform is currently catering to over 10,000+ developers in 30+ countries, as well as leading enterprises such as Intel, UpGrad, Holberton School, and Tata Consultancy Services across the globe.
“The investment pitch ofdemonstrated 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 at Venture Catalysts. “This, coupled with the clarity of vision, capability, and passion of the founding team, made our decision to invest a no-brainer.”
Speaking on the fundraise, Anshuman Pandey, CEO at NimbleBox.ai, commented, “This fundraise is at an exciting time as we are on an exciting growth journey and have experienced a massive 200 percent increase in our annual revenue.”
Nimblebox.ai is an NVIDIA Inception startup and a part of the Intel AI Builders Programme, and was named the winner of the 'AI for All' startup award at the AWS AI Conclave 2021. Besides tech enterprises, cohort-based edtech companies and institutions also leverage the collaborative features of the platform as an online lab for their learners.
“Every member in the NimbleBox.ai team is highly qualified, bringing in a lot of complementary skills and expertise,” added Sivadas R, Investment Director from 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.”