FireAI raises Rs 4 Cr in seed round led by IPV

AI-powered business intelligence startup FireAI has raised Rs 4 crore ($480,000) in a seed funding round led by Inflection Point Ventures (IPV). 

The funds will be used for product development, including innovations such as its Causal Chain diagnostic analytics platform, Text-to-SQL functionality, and a proprietary ETL tool. It also plans to expand its team and enter new markets.

Founded by Vipul Prakash, FireAI uses its proprietary AI engine to deliver descriptive and diagnostic analytics for enterprises. The company’s platform integrates with over 700 data sources, supporting clients such as Government e-Marketplace (GeM). It currently has a 30-member team.

FireAI builds conversational, real-time business intelligence tools that allow users to interact with data directly instead of using complex dashboards. The firm has expanded operations to Dubai, Abu Dhabi, Africa, and Kenya as a certified OEM partner, working with Alchemist LLP as its channel partner in these markets.

The startup focuses on making data accessible and actionable for all business users. It claims to improve forecasting accuracy by 30% and provide real-time alerts that enhance decision-making efficiency.

According to market estimates, the global AI and data analytics market is expected to grow from $74 billion in 2024 to $482 billion by 2033, while India’s market will expand from $2.6 billion to $27 billion during the same period.