AI4Bharat researchers secure USD 12 Mn from Peak XV and Lightspeed
Summary
The Indian artificial intelligence (AI) startup, AI4Bharat researchers have successfully raised a substantial $12 million in funding from venture capital firms Peak XV and Lightspeed. This significant investment will focus on empowering the researchers to establish their own firm, propelling AI innovation and research in India to new heights.Commenting on the funding raises, Founder, A14Bharat, Dr Pratyush Kumar, said, AI is one of the defining technologies of this age. This is where domain experts and the government would play an important role, to identify problems that are unique to India and can benefit from AI.Founder Dr Mitesh M Khapra said, To solve such problems, it is important to move AI research and development out of silos and create a platform where AI professionals can come together to design and build impactful solutions. The startup is dedicated to focus on advancing in AI technology while ensuring its accessibility to Indias diverse population.Peak XV, a venture capital firm, recognized the immense potential of AI4Bharats work and decided to support their vision.Further, the $12 million investment will be utilized to establish a new firm led by the AI4Bharat researchers. The funds raised will not only fuel the growth of AI4Bharats researchers but will also inspire and encourage other innovators and startups in the Indian AI landscape.