Today, it looks like each firm both desires to or is already providing an AI services or products. For startups constructing an AI product on this area, it’s a extremely good time, however they aren’t with out their challenges — the tech remains to be early, and although many firms are concerned about attempting generative AI options, they have been gradual to undertake it.
There are quite a few causes why, however what seems to be foremost is the worry of AI hallucinations. “You may’t use [AI] in manufacturing for big enterprises if it lies,” stated Pavitar Singh, co-founder and CEO of UnifyApps.
Singh feels his startup has a great resolution for that: UnifyApps basically connects an organization’s SaaS apps and knowledge to one another, and lets firms construct and deploy their very own AI chatbots on prime to interface with all the data. This method, he says, serves to reduce AI hallucinations, as a result of UnifyApps’ brokers can basically vet one another’s output based mostly on the corporate’s knowledge.
UnifyApps is new to an already crowded area — bigwigs like Workato and Zapier already supply comparable “unification” providers, as do a slew of different startups. However Singh believes his startup’s AI-focused method offers it an edge as a result of it bakes within the capability to construct AI chatbots. “Enterprises can construct any variety of brokers: They may help HR, gross sales, advertising, authorized, or finance,” he stated.
Firms could also be hesitant to undertake generative AI, however UnifyApps has already attracted greater than 20 clients, together with one of many largest banks on this planet and a giant telecom supplier, Singh stated.
Good traction is a good search for a younger startup, and buyers appear to agree. The corporate simply raised a $20 million Sequence A funding spherical from ICONIQ Progress, lower than six months after UnifyApps closed a $11 million seed spherical.
Singh based UnifyApps final 12 months after spending over 11 years as a CTO of Sprinklr, a buyer expertise administration platform for international manufacturers, which went public in 2021.
Whereas solely a minority of ICONIQ Progress’s investments are in Sequence A startups, the agency was nicely acquainted with Singh. “Pavitar was the mad scientist genius that was constructing all of the unbelievable merchandise for Sprinklr,” stated Matt Jacobson, a normal companion at ICONIQ.
ICONIQ had invested in Sprinklr’s Sequence D in 2014, and Jacobson spent a few years serving on the corporate’s board. He says he was so impressed with Singh and what he was doing at UnifyApps, that he couldn’t cross up investing within the startup.
“Stakes have gotten a lot greater with AI functions,” Jacobson stated.
UnifyApps has 150 staff throughout workplaces in Gurgaon, Dubai and New York.
As for why the corporate has such a giant staff, Singh stated UnifyApps desires to make sure its product is flawless so that giant enterprises can “undertake it safely.”
