Simplismart, a Bengaluru-based SaaS startup, has successfully secured USD 7 million in a Series A funding. The fundraising round was led by Accel, which was further participated by Shastra VC, Titan Capital, among others.
Furthermore, as per the credible sources, the company is valued at about USD 35 million. In its press release, Simplismart highlighted that the fund will be utilized to expand its research and development (R&D) initiatives so as to accelerate growth.
Simplismart was Co-founded by Amritanshu Jain and Devansh Ghatak back in 2022, wherein, it offers an AI-based no-code machine learning platform that allows users to train custom machine learning models by utilizing their data, powering applications and decisions without writing code.
Simplismart has also been focusing on simplifying AI adoption for enterprises by offering a robust platform which is cost-effective platform that addresses common challenges across enterprises who are deploying AI such as performance trade-offs and the complexities of standardized workflows.
With this, Simplismart aims to eradicate issues pertaining to high costs, poor ROI, data privacy, and the necessity for customization to avoid downtime. Simplismart was a part of the cohort of 35 generative startups from India who were selected by AWS and Accel in its AWS ML Elevate program.
