Enterprise AI startup Keito announced that it has raised an undisclosed amount in a seed round from LetsVenture, SumaSoft Pvt Ltd, Rajesh Agarwal, CEO of SP Investments; lifestyle investor Jaideep Sippy; angel investor Nandkishore Mundada; Gautam Ramchandani, Former SP Group & Marcomm Consultant; Hemant Uttam Selmokar from Infosys; Yogesh Veerkumar Parulekar, Former Head of Visual Analytics, LTI; and SadaSiva Swamycharan Avunooru, Director of Data & Analytics, Columbus.
According to the official statement, the startup had raised its previous seed round in January 2020. With this round, Keito has raised a total of $360,000 across its seed rounds so far.
In a statement, Keito stated the funding will be utilized for developing new products, sales processes for US expansion, and supply fulfillment. The startup is also in conversations to raise another larger seed round to finance its sales, customer success, and creating market awareness.
Commenting on the development, Amal PS, CEO and Co-founder of Keito said, “Our team and customers have played a key role in ensuring that we are focused on addressing the problem of having reliable information from existing islands of data within a business. That has helped us refine our fundamentals, approach, and vision.”
“Until now, we were focused on understanding the true potential and need for having an information management system within each enterprise. These foundations and depth have helped us define an out-of-box experience for our customers,” he added.
Established in 2016 by Amal, Keito offers a no-code intelligent information management platform. The startup has two products- Capture and Ira, enabling enterprises to maximize performance. It is directed at offering a low code platform, configurable with enterprise-grade security, reliability, and scalability for businesses.
“Some of our marquee customers are Automation Anywhere, Govt of India, and Mercari to name a few. The total data processed within the platform has crossed three million last year. We are looking to process more than 10 million data by the end of 2021,” the company said in a statement.
In a statement, Sunitha Ramaswamy, President, Early Stage, LetsVenture, said, “While we all are bracing the current pandemic situation, it has also made business relook at the automation strategies. While data is the key for any business today for their growth, which is available across various channels today, sourcing the right data from a reliable source has always been a challenge”
“Keito Works is addressing this challenge that will enable businesses to grow at a faster pace. We are also excited to see the data processing market creating a unique and niche segment of its own in the near future,” she added.
Keito is an innovative platform offering smart solutions to organizations. I strongly believe the company has amazing growth prospects in the time to come. My best wishes to the team of Keito.Shishir Gupta, Founder and CEO, SartupLanes
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