Venture Catalysts, a seed investment & innovation platform, has invested in vPhrase Analytics Solutions Pvt. Ltd., an Artificial Intelligence platform that helps companies communicate insights in data, in words, at scale.
The amount was not disclosed.
The seed investment was led by Apoorv Ranjan Sharma and Daud Ali from Venture Catalysts, while other prominent Angels from the VCats networks included Anil Jain, Anuj Golecha, Anirudh Damani, Vishal Maheshwari, Nitin Aggarwal, Mayank Shah, Jayesh Shah and Anand Ladsariya.
In addition to VCats Angels, Anil Chokhani from the Canada-based Zone Startups also co-invested in the seed funding round, which saw Zone Startups Founder Matt Saunders joining the team at vPhrase as an Angel observer. Also, the platform is partially funded by Centre for Innovation Incubation and Entrepreneurship (CIIE) at the Indian Institute of Management, Ahmedabad (IIM-A)
Speaking on the investment, Dr. Apoorv Ranjan Sharma, Co-founder, Venture Catalyst, commented, the decision to invest in vPhrase Analytics was taken due to its focus on technology to drive innovations.
The company was founded by Neerav Parekh.
vPhrase is already working with two of top five private Indian banks besides other companies in insurance, broking, media and engineering space.