Ikigai Labs bags $25M in Series A round from E& Capital, others

Ikigai Labs has secured $25 million in a Series A funding round led by E& Capital, Premji Invest, and Foundation Capital.

The company will use the capital to help businesses use AI. Through the Ikigai Academy and the Ikigai platform, organisations can be trained to master AI, said Zawya, quoting from a press release.

“I see the challenges that individuals face in understanding what can be done with their tabular data, together with the struggle for enterprises to leverage the latest technological innovations in AI,” said Devavrat Shah, Co-founder and Co-CEO, Ikigai Labs, and Andrew (1956) and Erna Viterbi Chair Professor of AI and Decisions at MIT.

Founded by Shah and Vinayak Ramesh in 2019, Ikigai Labs offers a no-code platform based on proprietary graphical models for forecasting, sparse data matching, and optimisation. It uses three core tools—aiMatch for data reconciliation, aiCast for prediction, and aiPlan for scenario planning for time series forecasting.

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The platform is designed to enable companies to build graphical models and use them to power applications within their organisations. Customers can use the platform to train models on their business data as needed, creating models that support forecasting, scenario planning, and analysis.

The company uses an Expert-in-the-Loop (EiTL) reinforcement learning platform, training over 6,000 students from more than 90 countries on topics such as no-code AI and time series forecasting.

To date, Ikigai Labs has raised about $38.2 million in three funding rounds.