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Mate Labs raises USD 550,000 from Omphalos Ventures

Business Finance

ANI  |  New Delhi [India] 

Mate Labs, an AI based start-up from Bangalore that focuses on providing easy solutions for non-developers and businesses, has announced raising funds worth USD 550,000 from lead investor Omphalos Ventures India LLP and other investors.

"We observed that large enterprises around the world were building platforms for developers, and no one considered building something for the non-developers to easily integrate into their models," said CEO and co-founder, Mate Labs, Rahul Vishwakarma.

"We are excited and humbled by this new move, and will be focusing on putting all the resources in our upcoming project," added Vishwakarma.

Mate Labs built this platform through their proprietary technology which makes the automation possible. The team have spent months developing a technology which is intelligent in itself and also keeps learning how to do the defined tasks even better - something that was unknown in the BI and Analytics domain.

"We believe that this is a gap offers up a huge white space. And, Mate Labs is well positioned to filling some of these critical gaps. What they have built is truly transformative," said Omphalos Ventures.

"We are very happy to join hands with MateLabs' team in their journey. Machine learning models for businesses currently limited to those who can afford a team of Data Scientists. MateLabs is changing this model. All decision makers can leverage their platform, to build, train and deploy their models in simple steps," said Pramod of Eagle10 Ventures.

"Mate Labs is one of those companies with a great combination of pushing the envelope in tech and a strong-willed founding team. That trait, with this round of investors, sets Mate Labs in a great direction for the future," said Tak Lo, Zeroth.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, September 17 2018. 17:10 IST