Bombay: Pune-based Light Information Systems, which offers artificial intelligence-based solutions under the E42 brand, raised $ 5.4 million (around Rs 40.4 crore) led by Pavestone Ventures in a round of Series A. E42 is a natural language processing-based AI platform developed by Light Information System and its platform can be used to create AI colleagues who automate complex people – and functions centered on the processes towards the optimization of time, energy, resources and costs.
The funds will be deployed to boost R&D, build their partner ecosystem and engage businesses globally, said the company founded in 2012 by Animesh Samuel and Sanjeev Menon.
The E42 platform has been recognized by industry giants such as Microsoft, SAP, Oracle, IDC and Nvidia, industry associations such as Nasscom and SaaSBhoomi.
Animesh Samuel, chief executive of Light Information System, said the funding would help them strengthen research and partner ecosystems, grow and better serve businesses in all geographies.
Sridhar Rampalli, Managing Partner at Pavestone Ventures, said the need for end-to-end process automation has never been greater, as AI-led activation and automation in enterprises maximizes the efficiency and scalability while minimizing complexities and costs.