AI startup AntWorks raises ₹103 crores in series A funding

AI startup AntWorks raises ₹103 crores in series A funding
AI startup AntWorks raises ₹103 crores in series A funding

AntWorks has raised ₹103 crores ($15 million) in series A funding from Japenese investment firm SBI Investment Co, a subsidiary of SBI Holdings. The funds raised will be used to boost its growth in Artificial Intelligence, research & development, along with strengthing its marketing and sales as it ventures into new markets.

SBI Investment and AntWorks will also be forming a joint venture to tap opportunities in emerging AI space in the South East Asian market.

AntWorks provides a platform that integrates artificial intelligence and cognitive process automation to provide smart solutions for enterprises. It was founded by Asheesh Mehra and Govind Sandhu in 2015.

The startup focuses on Robotic Process Automation (RPA). AntWorks provides a unique code-free RPA product and its one-of-a-kind Cognitive Machine Reading (CMR) engine that is rapidly replacing OCR (Optical Character Recognition). It is a critical component to any Automation, RPA or digitisation journey for enterprises as it reads any data type including Structured, Unstructured, Inferred, or Image data.

Asheesh Mehra, Founder and CEO, AntWorks, said, “When Govind Sandhu and I started AntWorks with a small, passionate group of people, the dream was to create a company that would serve as a catalyst for enterprises on their digitization journey. SBI Holdings reposing this faith in us with both the investment and the joint venture is a validation and an opportunity to grow and come into what we have always believed AntWorks can be – a true leader forging a new path, reimagining business as usual.”

Having served over 450 customers across 4 continents, AntWorks provides solutions for industries working in a wide range of domains. Its intelligent automation platform, ANTStein’s advanced Machine Learning and Natural Language Modelling capabilities make it a leader in the industry.

Freshly infused with capital, AntWorks is set to bring its automation solutions to the enterprises in the emerging markets like Philippines, India, China, etc, to empower their businesses.

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