SaaS startup Simplismart, based in Bengaluru, has raised $7 million in a Series A funding round led by Accel, with additional funding from Titan Capital, Shastra VC, and other investors.
In July of this year, media exclusively reported on the funding. The company will be valued at approximately $35 million, according to sources.
Simplismart stated in a press release that the money raised will be utilized to accelerate growth and expand research and development (R&D) initiatives.
Simplismart is an AI-based no-code machine learning platform that enables users to train custom machine learning models using their data, powering applications and decisions without writing code. Amritanshu Jain and Devansh Ghatak co-founded the company in 2022.
In order to prevent downtime, the startup aims to remove problems with excessive expenses, low return on investment, data privacy, and the requirement for customization.
Simplismart was one of 35 generative startups from India that were chosen for the AWS ML Elevate program, which was introduced in July 2023 by AWS and Accel.
