In a seed funding round led by Inflection Point Ventures (IPV), FireAI, a business intelligence startup powered by AI, has raised Rs 4 crore ($480,000).
The money will go toward developing new products, including proprietary ETL software, Text-to-SQL capabilities, and its Causal Chain diagnostic analytics platform. It also intends to enter new markets and grow its workforce.
FireAI, which was founded by Vipul Prakash, provides enterprises with diagnostic and descriptive analytics through its in-house AI engine. The company’s platform supports customers like Government e-Marketplace (GeM) by integrating with more than 700 data sources. Its team currently consists of thirty people.
FireAI creates real-time, conversational business intelligence tools that let users engage with data directly rather than through intricate dashboards. With Alchemist LLP serving as its channel partner in these markets, the company has extended its operations to Dubai, Abu Dhabi, Africa, and Kenya as a certified OEM partner.
The startup’s main goal is to make data actionable and available to all business users. It promises to provide real-time alerts that increase decision-making efficiency and increase forecasting accuracy by 30%.
The global market for AI and data analytics is projected to grow from $74 billion in 2024 to $482 billion by 2033, while the Indian market is expected to grow from $2.6 billion to $27 billion in the same time frame.
