ALSO READEx-directors of Infy, STFI to launch seed fund TripFactory raises $10 mn in Series A from Aarin Capital OnlineTyari raises Rs 5 crore from VC firm 500 startups, Mohandas Pai, others Govt should not run data centres because things are on cloud : Mohandas Pai Deutsche Bank net profit up 93% in FY15 from India ops
Stelae Technologies, a software product company with operations in Chennai and Bangalore, announced a pre-series A funding with Earlsfield Capital, UK. Saha Fund, former Infosys veteran Mohandas Pai and Cross Border Angels also participated in this round.
The company refused to disclose the amount raised from the investors.
The investment will be used to scale up the delivery operations of the company and increase the breadth of technology partners worldwide, said the company in a press release.
The firm's software product, Khemeia, whose patent is pending, detects content elements in documents like the human eye, using artificial intelligence-based pattern recognition and content analyses algorithms. The company claims Khemeia has processed over 10 million pages of content for customers like Rolls Royce Aerospace (UK), DCNS (France), Wolters Kluwer (US), Deutsche Bank (UK) and for a large defence customer in India.
Khemeia unlocks unstructured content in documents, rendering it searchable, indexable and analysable by Content Mining, Cognitive Learning and Content Management solutions like IBM Watson, IBM Cognos, SAP Business Objects, PTC Arbortex, it was further added.
Founders of the company includes are Aruna Schwarz (CEO) based in Bangalore, Maria Shiao (VP Business Development) based in London, Pierre Fraisse (CTO), in Lyon and Sandeep Raizada (VP Operations) in Bangalore.
They have over 25 years experience in enterprise software and B2B Business Development, Marketing and Project Management in companies like Cisco, IBM, Schlumberger, Cable & Wireless, AT&T, Siemens Business Systems, HCL and Logica, in Europe, India & the US.
Sumeet Pillai, Founding Partner at Earlsfield Capital commented that the Enterprise B2B big data sector remains a high growth space, and Khemeia is a product platform built to scale globally and across sectors, as it transforms the ability of enterprises to utilise data that was previously inaccessible or difficult to convert.
With the use of artificial intelligence and smart algorithms, Khemeia? is able to provide information management solutions to multiple industries, said Ankita Vashistha, Founder and CEO of Saha Fund.
Pranav Pai, investing on behalf of Mohandas Pai added that enterprises are constantly innovating to deliver new value propositions by improving deliverability, building for scalability, and assuring reliability.
In the new API economy, enterprises can now do this by integrating with third-party products and services to release new solutions rather than build everything in-house.