E42 raises $5.4M in Series A round
Light Information Systems announced that it has raised $5.4 million led by Pavestone Ventures in a Series A round.
The Pune-based startup plans to use the freshly raised funds to strengthen R&D, build its partner ecosystem, and engage businesses globally. The company was established in 2012 by Animesh Samuel and Sanjeev Menon.
E42 is a natural language processing-based AI platform developed by Light Information System that can be used to build AI coworkers that automate complex people and process-centric functions towards time, energy, resource, and cost optimization.
Speaking about the funding, Animesh Samuel, CEO, Light Information System Private Limited, said, “We are thrilled to receive the funding as it will help us strengthen our research and partner ecosystems and help us scale and serve enterprises across geographies. Our Cognitive Process Automation platform has benefited organizations, big or small with automating complex and people-centric processes, that too, with a return on investment in as short a time as two weeks.
“We believe that an AI-driven strategy will be at the core of every business to succeed. We want to help these organizations in mapping out this strategy with the help of our multifunctional cognitive agents/AI Co-worker, which will help these businesses succeed by optimizing profits while reducing time-consuming and difficult processes. We want to open up our easy to deploy, maintain, and migrate the no-code platform to enterprises and partners globally to come and try out different automation that can be customized as per their requirements,” he added.
Commenting on the investment, Sridhar Rampalli, Managing Partner, Pavestone Ventures, added, “We’re happy to be a part of E42’s growth story. The need for end-to-end process automation has never been greater as AI-led enablement and automation across enterprises is maximizing efficiencies and scalability while minimizing complexities and costs. We believe the E42’s platform has a combination of both horizontal and vertical capabilities, which exposes significant scope to deliver across enterprise functions at scale and depth.”
Light Information Systems seems to be an interesting startup offering innovative AI solutions. I’m sure the company will soon emerge as a dominant player in the market. My best wishes to the team of Light Information Systems.Shishir Gupta, Founder and CEO, StartupLanes
Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
You can subscribe to our news posts by entering your email in the box on the right side of this page.
Check out our YouTube channel for insightful content from the Indian startup ecosystem.
The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.
Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.
For publishing an advertorial article about your company on our website, drop an email at email@example.com