Precily Inc. (1), a New Delhi-based SaaS startup, focuses on automating legal and taxation business functions. The firm has recently secured an undisclosed sun for seed capital. Bharat Rao founded the business process automation startup in 2016. The firm combines AI with NLP, natural language processing to offers several solutions to consulting and services organizations.
It includes automation of business functions ba9sed on legal and taxation. The firm focuses on reducing human efforts for undifferentiated business activities. It would increase the work efficiency by approximately 400%, claims Precily.
The startup will utilize a fresh tranche to develop its products and refine its data science models. At present, the SaaS startup is experimenting with marketing strategies to build a robust product suitable for India and the US market.
Precily is Pushing Boundaries for Innovative Research in Technology and AI
Rohit Goyal, a Managing Partner at Windrose Capital, stated that Precily is among India’s few companies working hard for innovative research. He added that the firm is pushing boundaries for innovative research and practical application of technology and AI. The startup also offers comprehensive workflow management layers to clients apart from its core offering.
The latest investment of Windrose Capital on Precily is another bet for the firm. In November 2019, the capital marked its 30 million, approximately 214 crore INR first close of its debut fund in the Next Billion Fund. The funding round includes a group of investors with an entrepreneurial background.
In December, the firm led a 600K USD, approximately 4.3 crore funding round in Nivesh.com, a Noida-based distributor of mutual fund products. In January 2020, it participated in a seed funding round of Invento Robotics of 281,330 USD or approx two crore INR infusions. ITI Growth Opportunities Venture Fund led it. Other investors also participated in the funding round. It includes angels investors such as IC1101 Inc., Kevin Saboo, and Vikash Sharma.