Artificial intelligence startup Actionable Science has raised $1 million in seed funding from venture capital firm Globevestor and California-based Tri-Valley Ventures.
Other investors who participated in the round include Shyam Maheshwari (partner, SSG Capital); Jai Mirpuri (managing director, Redwood Group); Sukeert Shanker (chief operating officer of digital banking, East West Bank); Puneet Kaushik (partner, Auctus Advisors); Abhijeet Harolikar (head of global analytics centre, PayPal) and Brahmanand Hegde (founder, Vistaar Finance).
The company plans to use the fresh funds to accelerate product development, reach more customers and for client delivery, the statement added.
Actionable Science uses artificial intelligence, natural language processing and robotics technologies at an enterprise level to automate standard repeatable tasks in support teams such as IT, human resources and customer service. Besides these, it offers AI-powered digital agents for employee helpdesks.
The firm claims that its AI-powered product Virtual People makes it easy for enterprise support teams to improve productivity, enhance customer experiences, increase employee satisfaction and lower costs. Saurabh Kumar, co-founder and chief executive of Actionable Science, said,
We founded Actionable Science to help make sure human employees can focus on value-added work like creative problem-solving, relationship building and innovative thinking.
The startup was founded in 2016 by IIM-Bengaluru graduates Saurabh Kumar, Manish Sharma and Udaya Reddy. It has sales teams in the US and Bengaluru and an engineering and development centre in Dehradun. Its clients are mostly located in the US, Mexico and Europe and operate in financial services and banking, healthcare and several other industries.