Obviously.AI announced that it has raised $3.6m in a funding round led by TMV, a seed fund based out of Chicago and New York, and has also joined the board of directors. The round also saw participation from other leading investors like B Capital Group, Golden Gate Ventures, and Arka Venture Labs, among others.
Obviously.ai was founded by Tapojit Debnath Tapu and Nirman Dave to help business users get important insights. The platform now has more than 3,000 users, saving 13.8 million hours of manual data science work.
This came through because the users have hosted more than 82,000 predictive models. They strive to disrupt the AI/ML space while positioning themselves as a leader in the industry.
Obviously.ai has created a home-grown model called “Edge Sharp AutoML,” which delivers AI models in a minute, interprets results and outcomes. The users begin by connecting their spreadsheets, and database. The technology works by examining the features of the user’s data like variance, sparseness, etc. It then applies the analysis to shortlist the top applicable Machine Learning (ML) algorithms that fit both, statistical as well as real-world performance.
After the latest funding round, the platform is essentially transforming how the present-day business user works with Artificial Intelligence. Obviously.ai plans to utilize the funding to improve the company’s Research and Development (R&D), add time series and other new-age algorithms, grow its sales and marketing team, and create an ecosystem that can further automate the predictive AI abilities. The model created by the company is delivered in an attractive and appealing report, which one can share in the network as it is.
AI and Machine Learning are taking over several sectors and have become a necessity. Obviously.ai will be able to expand its business with the freshly raised funds.Shishir Gupta, Founder and CEO, StartupLanes
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