Obviously AI has successfully raised $4.6 million over two funding rounds, positioning itself as a notable player in the no-code machine learning space. The platform offers a suite of tools designed to automate back-office work, emphasizing speed, security, and governance in AI deployment.
Keep reading to explore the intricacies of Obviously AI's fundraising journey and the investors backing this innovative platform.
What Is Obviously AI?
Obviously AI, founded by Nirman Dave and Tapojit Debnath, is a company that provides no-code machine learning tools to help businesses build AI models quickly and reliably. The company operates from San Francisco, USA, and Bengaluru, India.
With a team of 11-50 employees, Obviously AI offers a dedicated data science team to assist their clients in achieving their AI goals. Their platform emphasizes speed, security, and governance in AI deployment.
Since its inception, Obviously AI has been committed to making AI accessible to businesses of all sizes, enabling them to leverage advanced technology without the need for extensive coding knowledge.
How Much Funding Has Obviously AI Raised?
- Pre-Seed Round
- Amount Raised: $900,000
- Date: March 2020
- Lead Investors: UTEC - The University of Tokyo Edge Capital, William Gendron, Arthur Benhamou, Sequoia Scouts
- Motivation Behind the Round: To support the initial development and launch of their no-code machine learning platform.
- Seed Round
- Amount Raised: $3,700,000
- Date: May 2021
- Lead Investors: TMV, B Capital Group
- Motivation Behind the Round: To expand their market reach and enhance platform capabilities.
- Seed Extension
- Amount Raised: $1,000,000
- Date: July 2021
- Lead Investors: University of Tokyo Edge Capital Partners (UTEC)
- Motivation Behind the Round: To expand into Asian markets, particularly Japan, and further machine learning research and development.
Obviously AI has raised a total of $5.6 million with a current valuation of $20 million (~estimated).
Key Investors
- University of Tokyo Edge Capital Partners (UTEC)
- Details: UTEC is a deep tech investment firm based in Tokyo, Japan. It focuses on early-stage startups with groundbreaking technologies.
- Investment Focus Areas: Deep tech, life sciences, sustainability.
- Notable Investments: Mujin, PeptiDream, Spiber.
- Trail Mix Ventures (TMV)
- Details: TMV is a venture capital firm that invests in early-stage companies. It aims to support businesses that are creating a positive impact on society.
- Investment Focus Areas: Health and wellness, future of work, sustainable solutions.
- Notable Investments: Parsley Health, The Wing, Public Goods.
- B Capital Group
- Details: B Capital Group is a global venture capital firm co-founded by Eduardo Saverin. It partners with growth-stage companies that are transforming large industries.
- Investment Focus Areas: Enterprise software, fintech, healthcare.
- Notable Investments: Ninja Van, Icertis, Atomwise.
- Sequoia Scouts
- Details: Sequoia Scouts is a program by Sequoia Capital that empowers founders and operators to invest in early-stage startups. It leverages the extensive network and resources of Sequoia Capital.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: DoorDash, Stripe, Robinhood.
- William Gendron
- Details: William Gendron is an angel investor with a focus on early-stage technology startups. He has a background in finance and entrepreneurship.
- Investment Focus Areas: Technology, fintech, AI.
- Notable Investments: Not publicly disclosed.
What's Next for Obviously AI?
Obviously AI is poised to capitalize on significant opportunities, particularly in the Asian markets. With a strategic partnership with Dai Nippon Printing (DNP), the company aims to expand its reach and serve mid-market businesses that lack dedicated data science teams. This expansion could open doors to a vast array of industries, including marketing, software, fintech, and insurance, potentially increasing their client base beyond the current 3,000.
Future fundraising efforts will likely be driven by the need to support this expansion and further develop their machine learning capabilities. The growing interest in no-code AI solutions presents a fertile ground for additional investments. However, the company will need to navigate challenges such as competition from other no-code platforms and ensuring the scalability of their proprietary technology, Edge-Sharp AutoML. Successfully addressing these challenges will be crucial for Obviously AI's continued growth and market penetration.
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