E42 raises USD 5.4 million in Series A round
Mumbai, India: Light Information Systems today announced the receipt of a Series A investment of USD 5.4 million led by Pavestone Ventures. Their award-winning no-code AI platform, E42, has fuelled enterprise cognition by automating complex, time-consuming, and resource-intensive processes so that they no longer require human intervention. The automation is powered by multifunctional cognitive agents or “AI Co-workers”, which enterprises can create and customize on the E42 platform based on their needs.
The funding comes at a time when there is an ever-increasing demand for cognitive process automation across industries. The funding received will be deployed in enhancing the company’s AI platform “E42”, by boosting R&D to maintain the tech advantage, build their partner ecosystem, and engage businesses globally.
The Pune-based company, founded in 2012 by Animesh Samuel and Sanjeev Menon, makes process-centric and people-centric automation easier across verticals by driving human-like cognition across these processes. The platform has been recognized by industry giants like Microsoft, SAP, Oracle, IDC, NVIDIA, NASSCOM, SaaSBhoomi, etc.
Animesh Samuel, Chief Executive Officer, 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.”
Sridhar Rampalli, Managing Partner, Pavestone Ventures said, “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.”
The AI Coworkers created on E42’s platform are the future-ready AI workforce that augments the existing organization’s workforce by helping them efficiently scale their business by improving user experience across verticals. These AI co Workers built on E42 include AI Analysts, AI-AP Associates, AI HR Executives, AI Recruiters, AI Business Dev Execs, etc. and are deployed at several large and medium enterprises worldwide.
