Ema, a Mountain View, CA-based provider of enterprise-led generative AI solutions, has raised $25 million in funding.
SaaS Investors
The round was led by Accel, Section 32, and Prosus Ventures, with participation from Wipro Ventures, Venture Highway, and others. Prominent Silicon Valley figures like Sheryl Sandberg and Jerry Yang also backed the startup.
Founded in 1983, Accel is a seed and growth-stage venture capital firm that helps a global community of entrepreneurs. The firm prefers to invest in early-stage companies operating in the cloud, software as a service (SaaS), consumer, enterprise, information technology, healthcare, fintech, security, media, and business products & services sectors. The firm has additional offices in San Francisco, London, and Banglore.
Section 32 is a venture capital firm with a focus on the technology and healthcare sectors. The company's main service is investing in a wide range of technology areas, including artificial intelligence, enterprise software, cybersecurity, fintech, quantum computing, computational biology, and biotechnology. It was founded in 2017 and is based in Silicon Valley, California.
Prosus Ventures is the corporate venture capital arm of Prosus based in Hoofddorp, Netherlands. Founded in 2015, the firm seeks to invest in technology companies operating in the e-commerce, mobility, logistics, finance technology, blockchain, agriculture technology, sustainability, software-as-a-service, and business-to-business sectors across India, Southeast Asia, Europe, and the Americas.
Ema Use of Funds
The company will use the funding to support research and development, product expansion, and building the go-to-market function. Ema leverages large public language models and in-house models to maintain accuracy.
About Ema
Founded in March 2023 by Souvik Sen and Surojit Chatterjee, Ema stands for Enterprise Machine Assistant, a generative AI-powered employee who collaborates with human colleagues to automate complex workflows and boost productivity across every role. It allows enterprises to build generative AI personas and applications internally for automation and productivity enhancement. Customers, including fintechs Moneyview and TrueLayer, deploy Ema across various functions like customer support, legal, sales, compliance, HR, and IT. The AI suite can connect to 200 software applications used by enterprises like Salesforce and Workday.
Funding Details
Company: Ema
Raised: $25.0M
Round: Unknown
Funding Month: February 2024
Lead Investors: Accel, Section 32, and Prosus Ventures
Additional Investors: Wipro Ventures, Venture Highway, Sheryl Sandberg and Jerry Yang
Company Website: https://www.ema.co/
Software Category: AI Assistant
Source: https://economictimes.indiatimes.com/tech/funding/enterprise-led-genai-startup-ema-secures-25-million-in-funding-led-by-accel-prosus/articleshow/108240021.cms