FireAI Raises ₹4 Cr in Seed Round Led by Inflection Point Ventures FireAI has said that the findings will be utilized towards product development, innovations such as Causal Chain, Text-to-SQL capability, proprietary ETL tool enhancing scalability, speed, and end-user experience.
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AI-powered business intelligence startup, FireAI, has announced a fundraising of INR 4 crore in a seed funding round led by Inflection Point Ventures.
FireAI has said that the findings will be utilized towards product development, innovations such as Causal Chain, Text-to-SQL capability, proprietary ETL tool enhancing scalability, speed, and end-user experience. The funds will also be directed towards hiring qualified tech professionals and market expansion.
FireAI aims to make business intelligence simple and accessible by moving away from complex dashboards and enabling users to interact with data through conversational AI tools.
FireAI has also grown its operations into regions such as Dubai, Abu Dhabi, Africa, and Kenya as a certified OEM vendor. The company has partnerships with Alchemist LLP to be the official channel partner in these regions, which helps improve its presence and distribution in the market. According to the company, FireAI has its own AI engine built from scratch that helps with descriptive and diagnostic analytics.
Vinay Bansal, CEO and Co-founder, IPV, said, "AI today is transforming all facets of life. However, it has also caused an overload of data without any means to interpret it or turn it into actionable next steps. This gap often leads to underutilization of AI or misinterpretation of data. FireAI's business intelligence makes this data conversational & accessible. Providing clear insights for future decision making effectively saving crucial time and resources for businesses."
Vipul Prakash, Founder and CEO, FireAI, said, "From India for the world, we've only just begun. This is just 20 per cent of what we aim to achieve. At Fire AI, we're building bold and meaningful innovations like Causal Chain, India's first diagnostic analytics platform, designed not just from a technical perspective, but through the eyes of real stakeholders. Our aim is to enable businesses, truly and meaningfully. Collaboration with IPV reaffirmed our belief that business intelligence for the future depends on simplicity and accessibility."
According to FireAI, the market for data analytics is expanding rapidly due to the growing utilization of AI across the globe and is globally set to rise from USD 74 billion in 2024 to USD 482 billion by 2033, recording an average growth of over 20 per cent.
In India, the market is set to increase from USD 2.6 billion to USD 27 billion during the same period, recording an average growth of 27.5 per cent.
