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Nanonets gets Accel’s backing to improve AI-based workflow automation
Nanonets, a startup using AI to automate back-office processes, has raised $29 million in a new funding round led by Accel India.
A Y Combinator alum, the startup has built an AI platform through which it offers no-code solutions that, according to the company, can help businesses extract information from documents, emails, tickets, databases and the like, and convert them into actionable insights. Its no-code AI agents can be plugged into ERP platforms like QuickBooks, Xero, Sage, and NetSuite to automate accounts payable processes, optimize supply chains by taking historical data from Square and Tableau, and summarize health reports from patient management systems. IIT Gandhinagar alumni Juvatkar and Sarthak Jain (CEO) co-founded Nanonets after selling Cubeit, a machine-learning platform that turned web pages into sharable mobile cards, to fashion portal Myntra in 2016.
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