AI-based startup Peritus.ai raises $2 million from Ideaspring Capital, others

Peritus.ai, an artificial intelligence (AI)-based platform which assists & automates support fulfilment for engineered IT systems in enterprise data centres, has raised $2 million from Ideaspring Capital and The Hive in a seed funding round.

The fresh proceeds will be used to further expand its team in India and ramp up its research and development.

Founded just a year ago by Kamesh Raghavendra, Mohan Reddy, and T.M. Ravi, Peritus.ai focuses on applying AI and Machine Learning to enable autonomous data centres through automation of infrastructure support.

It also helps to decide the right course of action and deliver recommendations and resolutions to enable faster problem resolution and minimize downtime.

Peritus.ai basically works on four programmes such as curation and consolidation, automation, new entitlements and deliveries.

Through these programs, the startup offers validated designs and solution deployment with fully automated service fulfilment to its clients.

From the last few years, the artificial intelligence-based platforms have emerged in large numbers.

Also Read: American Express acquires AI-based chatbot startup Mezi

Last month, Global financial services firm American Express had acquired its portfolio AI-based chatbot startup Mezi for an undisclosed amount. The California-based company with a major workforce spreading across Pune and Mumbai is an artificial Intelligence-enabled virtual travel assistant.

According to Economic Survey 2017-18, India has the potential to be a global leader if it makes the right investments in the technologies of the future including artificial intelligence, machine learning and blockchain.

The government has also been encouraging for AI-based platforms and also getting feedback on the emerging technology across the country.

Of late, Indian e-commerce companies are slowly adopting AI in various aspects of their businesses to reduce costs and drive sales. It can reduce operational costs just to a fraction through automation.

Even e-commerce juggernaut Flipkart is investing millions of dollars in the emerging technology to enhance the shopping experience, shortening the time taken to fulfil deliveries and address customer complaints.

The funding news was first reported by ET.