In a seed round headed by an angel investor, Data Science Wizards has raised $1.4 million at a valuation of $16.4 million.
According to a recent press release, the funds will be used to expand and improve UnifyAI, their deep-tech AI platform, as well as to bolster their team.
Data Science Wizards (DSW), founded in 2019 by Pritesh Surendra Tiwari, Ramesh Khare, Sandeep Khuperkar, and Shivam Thakkar, seeks to revolutionize industries with cutting-edge, custom AI solutions. The company’s primary goal is to empower businesses to drive digital transformation and accelerate AI adoption by providing them with measurable results and rapid deployment.
With UnifyAI, DSW will introduce insurAInce, a solution created especially for the insurance industry that will accelerate AI-driven change. With the help of specialized tools and pre-learned models, this solution addresses the particular difficulties faced by the insurance sector and improves risk management, operational effectiveness, and innovation.
In order to transform how these sectors use AI and go from experimentation to large-scale production, the Mumbai-based company also intends to launch domain-specific solutions based on UnifyAI for banking, telecom, retail, and manufacturing.
DSW claims that the insurance solution allows for the quick implementation of use cases involving AI and GenAI in a matter of weeks. These use cases center around fraud detection, risk assessment, claims processing, and customer engagement. The platform allows insurers to adopt AI without interfering with their current operations because it integrates with legacy systems already in place. It also has regulatory and compliance features built right in to meet the strict standards of the industry.
Industry heavyweights like Canara HSBC Life Insurance, Manipal Cigna, and Castler, all of whom have seen notable improvements in their operations following the integration of UnifyAI’s solutions, are said to have endorsed UnifyAI with great vigor, according to DSW.
