AI Panorama Automation Startup Attentive.ai Secures $12 Mn Collection A, Provides Tenacity Ventures as Lead Investor

Attentive AI

Delhi-based AI panorama automation startup Attentive AI just lately closed its Collection A2 funding spherical, bringing its complete Collection A funding to $12 million throughout two tranches (A1 and A2). The A2 spherical was led by Tenacity Ventures, with extra help from Vertex Ventures, Peak XV Companions, and InfoEdge Ventures.

With this newest funding, the corporate plans to deepen its AI automation capabilities, alongside increasing into new markets, and improve operational effectivity for the landscaping and building sectors.

Talking on main traders backing the startup, the co-founder Shiva Dhawan, in a latest dialog with AIM, attributed it to their centered imaginative and prescient. “These traders consider in our imaginative and prescient of AI-enabled companies reworking trillion-dollar industries,” Dhawan mentioned.

Based in 2017 by three pals from IIT-D, Dhawan, Rishabjit Singh, and Aishwarya Maurya, Attentive.ai supplies AI-powered options for the landscaping and out of doors companies trade.

“With our AI-based product – Beam AI, our customers can save beneficial time spent on doing handbook takeoffs and deal with driving progress for his or her enterprise. This funding is a testomony to our dedication to this mission,” mentioned the co-founder, Dhawan, sharing its mission of being the very best reconstruction answer within the trade.

At present, the corporate focuses on North America markets, the place takeoffs (measuring website areas) from PDFs are a normal process owing to mental property considerations making the method labour-intensive.

What about India?

“The Indian market operates in a different way. CAD recordsdata are extra extensively circulated right here, which simplifies takeoffs. Within the US, PDF recordsdata dominate, and extracting measurements from them is considerably tougher,” shared Dhawan, in an earlier interplay with AIM.

This basic distinction in workflows makes the US a extra appropriate marketplace for Attentive.ai’s options.

Concentrating on a Area of interest Market: Its success lies in its means to cater to a distinct segment however vital market. The billion-dollar landscaping and building industries have historically been ignored by AI corporations. Attentive.ai acknowledged this hole and utilised its experience in pc imaginative and prescient to develop customised options.

“These industries have large potential however are largely ignored by expertise corporations. If you happen to can construct for them, it creates a moat,” mentioned Dhawan.

Co-Founder & MD Tenacity Ventures, Rohit Razdan mentioned that they’ve been monitoring Attentive ai for greater than a yr now. “Throughout this time Shiva and the Attentive crew made sturdy progress on bringing innovative software program instruments to each the out of doors companies and the development trade. They perceive that these industries are underserved, and the AI/software program augmentation of a workforce that has a giant capability crunch, could be very well timed,” he mentioned.

The startup will proceed to focus within the US as Dhawan believes a greater alternative lies within the far West. “We aren’t specializing in India within the short- or medium-term as a result of the US market provides higher alternatives and price arbitrage,” he mentioned.

The put up AI Panorama Automation Startup Attentive.ai Secures $12 Mn Collection A, Provides Tenacity Ventures as Lead Investor appeared first on AIM Media Home.

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