Hyderabad Angels, others back data analytics startup ZineOne
Photo Credit: Thinkstock

ZineOne Inc, an event-driven interactions platform powered by artificial intelligence (AI), has raised $2.5 million (around Rs 16 crore) led by New York-based Golden Seeds Angels and Hyderabad Angels with participation from a bunch of angel investors.

The company is looking to use the funds to enhance its offerings in the field of machine learning and artificial intelligence for customer interactions across digital channels and devices, ZineOne said in a statement.

In addition, ZineOne named Venkat Rama Mohan Reddy, Hyderabad Angels’ advisory board member, as a director. Reddy is founder and executive chairman of IT and engineering services company Cyient Ltd. He also previously served as chairman of National Association of Software and Services Companies (NASSCOM).

ZineOne, which was founded in 2013 by Debjani Deb, Manish Malhotra and Arnab Mukherjee, is a real-time stream processing platform powered by machine learning to provide event-driven brand-to-user interactions. The platform enables brands to interact with customers contextually across channels.

“Our big data technology stack is designed to process incoming customer activity data and provide sub-second responses. We are looking forward to another year of continued growth that will enable us to build on the platform’s capabilities and serve clients’ needs,” Deb said.

ZineOne has offices in the US and India.

Of late, several startups in the artificial intelligence space have caught investors’ attention.

This week, Ratan Tata-backed AI startup Niki.ai raised about $2 million in a Series A round of funding from San Francisco-based fund SAP.iO and existing investor Unilazer Ventures.

Recently, data analytics startup FORMCEPT raised an undisclosed amount in its Series A funding from venture capital firm GVFL Ltd.

Last year, New Delhi-based Corseco Technologies Pvt Ltd, which provides AI-based software-as-a-service solutions to other businesses, raised $150,000 from Ameera Shah, managing director and chief executive, Metropolis Healthcare Ltd, and Vivek Bhargava, chief executive, iProspect India, for an 8% equity stake.

In September, Chennai-based AI and computer vision technology startup Mad Street Den Systems Pvt. Ltd secured an undisclosed amount in Series A funding from Sequoia Capital India and existing investors Exfinity Venture Partners and GrowX Ventures.

Leave Your Comment(s)