Appnomic Funding: raises 22 million Dollars
Appnomic a SAAS startup raises 22 million Dollars from Avataar Ventures
A Bengaluru and California based startup Appnomic which is a provider of first self-healing technology for IT operations raises 22 million Dollars from Avataar Ventures. This funding will be used by the company to expand its global presence and market reach. Earlier the company has raised 15.6 million Dollars. Simultaneously the company has also appointed Nitin Kumar as its Chief Executive Officer (CEO)
“Appnomic offers the industry’s first Autonomous IT Operations Software. Avataar is excited about this investment and new team,” said Mohan Kumar, Managing Partner at Avataar Ventures. “
“Appnomic is years ahead of traditional monitoring, APM and Cognitive Operations players because true AI and ML were put into use a long time ago,” explained Nitin Kumar, CEO, Appnomic.
Founder of StartupLanes, Shishir Gupta says: Artificial Intelligence is playing a pivotal role in today’s scenario. Appnomic is helping the companies to detect the issues before they exaggerate. It also helps in forecasting the problems and odd issues. AI has potential future for humans in near future for solving major issues within a second. Congratulations to the team!
Appnomic was founded by Paddy Padmanabhan. With Artificial Intelligence enabled self-healing technology, Appnomics uses unsupervised AI to learn how a system works under normal circumstances and creates a dynamic baseline. Appnomic is the first IT operations software that can predict and prevent failures before they happen opposite to traditional methods which alert after the threshold is being passed. It detects anomaly signals; pinpoints the root cause and triggers intelligent remedial actions.
AI has made the system very advanced whether it is the healthcare system, music industry, service sector, etc without the involvement of humans. India is the fastest-growing economy has a high probability of a maximum stake in AI. In budget speech 2018-19, Honorable Finance Minister mandated NITI Aayog to establish the National Program on AI, with the aim to guide the research and development in new and emerging technologies. #AIforAll will aim at enhancing and empowering human capabilities to address the challenges of access, affordability, shortage, and inconsistency of skilled expertise; effective implementation of AI initiatives to evolve scalable solutions for emerging economies; and endeavors to tackle some of the global challenges from AI’s perspective, be it application, research, development, technology, or responsible AI.