AI & DA Firm, Ganit Raises Funds To Double Headcount By 2023

Ganit GBL

Pointers at Glance

  • Ganit, AI & DA firm raises funds to double its headcount by the end of the year 2023.
  • The company works with Fortune 1000 clients across pharma, retail, consumer products and services, and BFSI (banking, financial services, and insurance) industries across several locations.

On Tuesday, Artificial Intelligence and Data Analytics firm said that it has raised funds from a clutch of investors and anticipates to double headcount to 500 by the end of 2023.

The company, Ganit did not divulge the quantum of funds raised but said the funding round was led by Sangeet Kumar, co-founder & CEO of Addverb Technologies; Krishnan Vishwanathan, co-founder & CEO of Kissht; Anshul Gupta and Amit Raj, co-founders of EatClub Brands (formerly Box8), among others.

Ganit company said in a statement that it had raised an undisclosed amount as part of its pre-series. It is also looking to double its headcount to 500 by 2023.

Ganit was established in 2017 by three veterans of the data science industry Shivaprasad KT, Ashok Harwani, and Hariharan R.

The company mentioned that observing organizational leaders struggle with the effective utilization of their captured data as well as their reluctance across the board in adopting analytical solutions, Ganit aims to make data consumable more than ever before through practically built solutions, concentrating on designing and deploying purpose-built AI/ ML solutions to maximize decision-velocity and minimize decision-risk across industries.

The organization works with Fortune 1000 clients across pharma, retail, consumer products and services, and BFSI industries across various geographies.

The new infusion of capital is slated to expand its product portfolio in multiple spaces, including the voice of the customer, forecasting, promotion planning, route optimization, price optimization, and fast-growing emerging areas like ESG (Environmental, Social, and Governance).

Estimates By IDC

According to estimates by the International Data Corporation (IDC), the AI (artificial intelligence) market in India is predicted to grow at a five-year compound annual growth rate (CAGR) of 20.2 percent and reach USD 7.8 billion in total revenues by 2025.

Industry experts suggest that data science and AI could contribute up to USD 15.7 trillion to the global economy in 2030. This underlines the necessity for data-driven decision-making for enterprises of all sizes.

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