Accel India backs Nanonets to enhance AI-driven workflow automation

Nanonets Founders
Nanonets, which primarily targets the financial services sector, says its AI platform aims to improve the efficiency of these processes and make them cost-effective. The company’s AI platform uses machine learning architectures to analyze unstructured data from uploaded documents and extract useful information. Nanonets is not alone in the global market for AI-based workflow automation. Consistent revenue growth is one reason investors have been investing in AI startups despite the slowdown in global markets. AI startups in the U.S. receive the most investments, followed by companies in China, U.K., Israel and India.

Guardz Secures $18 Million for Growth of SMB AI Security Platform

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Now, one of the companies building security tools for SMBs has raised a round of funding to expand its business, underscoring the demand in the market for better defenses. It’s no longer selling directly to SMBs but is working with managed service providers that in turn sell and manage IT services for SMBs. MSPs, it found, were the primary route to getting their product to get used by SMBs (meaning direct business was not taking off). “Guardz has developed an impressive, holistic, and user-friendly cybersecurity and cyber insurance risk-assessment platform that is cleverly tailored to MSPs, who serve the often-overlooked long-tail small business market. We are excited to lead this funding round and join the Guardz team on their journey to secure the digital world for those who today need it most.”