GenY Labs has announced today that it has raised seed round funding totalling approximately 700,000 dollars.
The round was led by BVR Mohan Reddy, Executive Chairman of Cyient and other Indian and Canadian investors.
This funding will be used for further development of their unique IP and business expansion in North America.
The company was co-founded by the trio of IIT alumni Ravi Jain, Giridhar Rao Apparusu and Yashwant Kumar. The founders have been entrepreneurs previously and bring together domain expertise in consumer research as well as AI and deep learning.
GenY Labs, based in Hyderabad (India) and Toronto (Canada), provides license to Auris, it is AI platform which curates consumer insights in real-time.
GenY Labs operates in the B2B SaaS space with its platform Auris, which empowers CMOs with curated industry-specific customer insights to improve their customers' experience and customer engagement.
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These insights are generated with Auris' unique artificial intelligence engine and analytics which acts on unstructured consumer data.
Auris is transforming the way consumer research is conducted and is already being used by industry-leading brands across financial services, healthcare, e-commerce, education and consumer goods and services domains among others, globally.
The seed round was led by BVR Mohan Reddy and was supported by other investors and entrepreneurs. Devdatt Shah, former Managing Partner of Brookfield Asset Management and former CEO of ICICI Securities, and Vikram Khurana, a serial entrepreneur, participated from Canada.
"It's fantastic to have the support of such accomplished investors as we look to grow the company. Our aspiration is to build a global product company driven by innovation and IP," said Ravi Jain, CEO at GenY Labs, commenting on the development.
"We're excited to participate in the seed round of GenY Labs. We are impressed by what the team accomplished in a short time and look forward to supporting their vision," said BVR Mohan Reddy, Founder and Executive Chairman of Cyient Ltd.
GenY Labs joins several India-based B2B SaaS players who have hit their fundraising milestones this year.
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