[Funding alert] Government advisory startup Sapio Analytics raises capital from Rachit Poddar and Rajesh Gupta
Rachit Poddar, Co-founder of Marwari Catalysts Ventures and Executive Director at Rachit Group, and Rajesh Gupta, Director at Jaybharat Group, have made an undisclosed amount of strategic investment in Sapio Analytics, a government advisory firm with its offices in Mumbai, Palo Alto, and London.
In a statement, the company said the funding shall be used for new research and development within Sapio with increased offerings for developing countries. The investment has been made at the company’s last fair market value of $20 million.
Founded by Hardik Somani, Ashwin Srivastava, Shripal Jain, and Viral Vora, Mumbai-based Sapio Analytics is an artificially intelligent shadow government support system that provides policy making support to governments using new-age technologies. The core departments the company focuses on are local administration, economic growth, law enforcement and intelligence, healthcare, and heritage.
“With support from Rachit Poddar and Rajesh Gupta, we hope to achieve our target of a $100 million valuation by the end of the financial year. Our value is in the amount of impact we are making on the citizens, and with initiatives such as Saksham and MSME Revival, we are currently impacting more than one million unorganised workers and businesses,” said Hardik Somani, Founder and Director of Sapio Analytics.
Hardik Somani, Founder and Director of Sapio Analytics
Rachit Poddar is an active investor in the startup ecosystem with a mission to help 1,000 startups in India over the next decade.
“Sapio Analytics mission is to impact, influence, and improve the lives of millions through leveraging technology, and government channels will prove to be a breakthrough in how the nation formulates policies across various sectors. We certainly believe our nation will be empowered with solutions designed by Sapio that will prepare us to not just become the largest economy, but also to give opportunities to our population of billions,” said Rachit Poddar.
The startup is directly connected with more than 1.2 million citizens of India, providing its services with support from governments in India. It is targeting government contracts based on its universally customisable product offerings, and is currently working with Government of India bodies, Government of Uttar Pradesh, Government of Telangana, Government of Delhi, and Government of Kerala, among others. Internationally, it has begun its focus on South America, with a transformation aimed in Guyana, a nation that recently discovered oil amongst its natural resources and is slated for a hyper growth.
“We are thrilled to partner with Sapio Analytics in their next phase of growth. Their team has demonstrated exceptional execution capabilities to develop innovative products for building our nation, which can create a massive global impact. We are confident that Sapio will emerge as one of India's leading technologically advanced large enterprises aimed at solving complex problems to contribute to India’s trillion-dollar economy vision,” added Rajesh Gupta.
Rajesh Gupta is an industrialist and leads a large conglomerate based out of Surat, and supports sustainable businesses of the future which can create a large impact on our nation.