As of late, 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 house, it’s a very good time, however they aren’t with out their challenges — the tech continues to be early, and although many corporations are curious about making an attempt generative AI options, they’ve been sluggish to undertake it.
There are quite a few explanation why, however what seems to be foremost is the worry of AI hallucinations. “You can’t use [AI] in production for large enterprises if it lies,” mentioned Pavitar Singh, co-founder and CEO of UnifyApps.
Singh feels his startup has resolution for that: UnifyApps basically connects an organization’s SaaS apps and knowledge to one another, and lets corporations 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 house — 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 mentioned.
Firms could also be hesitant to undertake generative AI, however UnifyApps has already attracted greater than 20 prospects, together with one of many largest banks on the planet and a giant telecom supplier, Singh mentioned.
Good traction is a good search for a younger startup, and traders appear to agree. The corporate simply raised a $20 million Collection A funding spherical from ICONIQ Progress, lower than six months after UnifyApps 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 international manufacturers, which went public in 2021.
Whereas solely a minority of ICONIQ Progress’s investments are in Collection A startups, the agency was nicely acquainted with Singh. “Pavitar was the mad scientist genius that was building all the incredible products for Sprinklr,” mentioned Matt Jacobson, a basic companion 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 UnifyApps, that he couldn’t cross up investing within the startup.
“Stakes have gotten much higher with AI applications,” Jacobson mentioned.
UnifyApps has 150 workers throughout workplaces in Gurgaon, Dubai and New York.
As for why the corporate has such a giant staff, Singh mentioned UnifyApps desires to make sure its product is flawless so that giant enterprises can “adopt it safely.”
