Artificial Intelligence startup Boxx.ai based in Bengaluru has raised $ 500,000 from venture capitalist Unicorn India Ventures based in Mumbai. Venky Krishnakumar (FormerCOO and CFO, Citibank APAC,) Suresh Shankar (Founder and CEO, CrayonData) and Vivek Bhargava (CEO, DAN Performance Group) are the other angel investors who also participated in this round of seed funding.
Boxx.ai plans to use the investments by its first institutional round to upgrading its technology and algorithms platforms and to expand product portfolio.
Launched in July 2016, Boxx.ai builds products that use artificial intelligence to solve analytic problems quickly at affordable costs. This is what interested Unicorn India Ventures to invest in the startup, Bhaskar Majumdar, their Managing Partner said.
AIDA was the first product launched by the IIT alums and founders Ajay Kashyap, Prakhar Raj and Shitiz Bansal and their team of experts. AIDA predicts what each consumer might buy in the future to enable internet companies to provide personalized product, content and targeted ads.
Boxx.ai is working in different arrays in the online space and Unicorn has announced investments in Grab, Inc42, VanityCube and Pharmarack. Archana Priyadarshini will be joining Boxx.ai on their board to work closely with the team.