Ex-Meta COO Sheryl Sandberg Invests In GenAI Startup Simplismart: Report
This may lead the company's valuation to reach USD 35 million, as per a media report
Sheryl Sandberg, former Chief Operating Officer (COO) of Meta has invested in Bangalore-based GenAI startup Simplysmart for the second time, in a funding round led by Accel, according to a media report.
This may lead the company's valuation to reach USD 35 million as per media report. Thus company has so far raised USD 7.14 million in two funding rounds.
In 2022, Amritanshu Jain and Devansh Ghatak established Simplismart, which enables users to create, implement, and monitor deep learning models with minimal coding. Additionally, it assists clients in implementing GenAI models at scalable and economical costs through the use of its fast inference engine.
The company counts Vodex, Dubverse and Mobavenue as its clients while a few of the company's principal B2B investors are Accel, Anicut Capital, and Titan Capital.
Additionally, Sandberg has invested in Ema, a different GenAI firm that increases efficiency in a variety of positions by automating intricate operations with straightforward dialogue. Using language, users may create and implement personalized AI agents, or personas, using the company's no-code platform.
According to a Nasscom survey, the number of GenAI startups in India more than doubled between 2021 and 2023. The increase in funding for these kinds of businesses since December 2023 is clear evidence of this.
In only the last six months, six early-stage AI generative startups have raised close to USD 100 million in funding. Among them are Sarvam AI, Ema, Neysa, Vodex and KonProz. Sarvam AI is the front-runner with USD 41 million raised in Series A, followed by USD 25 million raised in seed funding by Ema and USD 20 million raised by Neysa, the media report added.
