As of late, it looks as if 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 very good time, however they aren’t with out their challenges — the tech remains to be early, and although many firms are taken with 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 concern of AI hallucinations. “You can’t use [AI] in production for large enterprises if it lies,” stated Pavitar Singh, co-founder and CEO of UnifyApps.
Singh feels his startup has answer 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 high to interface with all the data. This strategy, he says, serves to attenuate 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 strategy offers it an edge as a result of it bakes within the capacity to construct AI chatbots. “Enterprises can build any number of agents: They can help HR, sales, marketing, legal, or finance,” he stated.
Firms could also be hesitant to undertake generative AI, however UnifyApp has already attracted greater than 20 clients, together with one of many largest banks on the planet and an enormous telecom supplier, Singh stated.
Good traction is a superb search for a younger startup, and traders appear to agree. The corporate simply raised a $20 million Collection A funding spherical from ICONIQ Development, lower than six months after UnifyApp closed a $11 million seed spherical.
Singh based UnifyApps final yr after spending over 11 years as a CTO of Sprinklr, a buyer expertise administration platform for world manufacturers, which went public in 2021.
ICONIQ Development doesn’t have many early-stage startups in its portfolio, however on this case, the agency was nicely acquainted with Singh. “Pavitar was the mad scientist genius that was building all the incredible products for Sprinklr,” stated Matt Jacobson, a basic accomplice at ICONIQ.
ICONIQ had invested in Sprinklr’s Collection 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 UnifyApp, that he couldn’t cross up investing within the startup.
“Stakes have gotten much higher with AI applications,” Jacobson stated.
UnifyApp has 150 staff throughout places of work in Gurgaon, Dubai and New York.
As for why the corporate has such an enormous crew, Singh stated UnifyApp desires to make sure its product is flawless so that enormous enterprises can “adopt it safely.”
