The round also saw participation of Rebright Partners, W250 Venture Fund and several business leaders, JIFFY.ai said in a statement. The executives include Sri Viswanath, CTO of Atlassian; Richard Galanti, CFO of Costco; Charles Goldman, CEO of Assetmark; Tony Thomas, former CIO of Nissan Motors; Jim Brady, former COO of Grant Thornton; and Bob Ward, former COO of Sungard Wealth and Retirement.
The startup will use the funds to expand its team, existing customer base, and to scale its product, the statement added.
“Our goal is to set a new standard for business at the intersection of entrepreneurship and innovation. Across our entire team, we’re dedicated to tackling the effects of automation on the workforce, not just by accelerating the path to profit for businesses, but also through our foundation arm, we’ll invest in programs to re-train and up-skill workers whose jobs may be displaced,” JIFFY.ai CEO and co-founder Babu Sivadasan said.
JIFFY.ai said, with deep expertise in AI, natural language processing, fintech, and automation, it has evolved its core product to make complex process automation and application design available to enterprises in just a few clicks.
Founded in 2018, JIFFY.ai has built a team of 150 global employees, and a customer base of over 20 enterprises.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India between June 8-June 12, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|JIFFY.ai||India, US||18 million||Series A||Nexus Venture Partners||Rebright Partners, W250 Venture Fund, Sri Viswanath, Richard Galanti, Charles Goldman, Tony Thomas, Jim Brady, Bob Ward||Software||AI and Machine Learning|
|Myelin Foundry||Bengaluru||-||-||Kris Gopalakrishnan’s family office — Pratithi||-||Software||AI and Machine Learning|
|CloudKnox Security||California||-||-||Wipro Ventures||-||IT Infrastructure||Cloud Computing|
|Hapramp Studio||Gurugram||1 million||Seed||Anand Mahindra, chairman, Mahindra Group||-||Internet||Social Media|
|WayCool Foods and Products||Chennai||5.5 million||Debt||IndusInd Bank Ltd||-||Food||AgTech|
|Postman||California, Bengaluru||150 million||Series C||Insight Partners||CRV, Nexus Venture Partners||Software||SaaS|