THIRUVANANTHAPURAM: Silicon Valley-based enterprise automation startup Jiffy.ai, run by Malayali entrepreneur and former president of Thiruvananthapuram-based IT company ‘Envestnet’ Babu Vinod Sivasdasan has raised $18 million (Rs 136.83 crore) in Series A funding.
The round was led by Nexus Venture Partners, in association with Rebright Partners and W250 venture fund. A number of C-level business leaders, led by Charles Goldman (CEO of AssetMark), Richard Galanti (CFO of Costco), Sri Viswanath (CTO of Atlassian), Tony Thomas (former CIO of Nissan Motors) and Bob Ward (former COO SunGard Wealth and Retirement), have also invested in the start-up.
Jiffy.ai, a brand of Paanini Inc, uses Robotic Process Automation (RPA), machine learning and artificial intelligence technology to help companies in automating tasks that are usually performed manually, making operations more time and cost-efficient. Jiffy.ai was created to upskill and provide job training and placement programmes for people whose positions are displaced due to RPA and other automation technologies.
Jiffy.ai has development centres in Bengaluru, Thiruvananthapuram and Kochi.