Tag: Vikram Ramasubramanian

Business

BFSI-focused AI/ML Platform Metis raises 1.3 Cr, led by Inflection Point Ventures

Jun 20, 2024 by Sujata Muguda 0 Comments #Ahmedabad, #AI/ML Platform, #BFSI, #CEO of Metis, #Inflection Point Ventures, #Intelligent Decisioning using AI & ML for BFSI, #Khushru F., #Khushru F. Doctor, #Metis Intellisystems, #Metis Intellisystems Pvt Ltd, #Vikram Ramasubramanian

Ahmedabad, 20 June 2024: Metis Intellisystems Pvt Ltd, which stands for Intelligent Decisioning using AI & ML for BFSI, has raised 1.3 Crores in a round led by Inflection Point Ventures. The funds will be allocated to further develop the pioneering solutions, optimize strategic use, and expand local and global outreach avenues to expand their market presence and drive growth.

L-R_Amit Saraswat_CPO, Khushru F. Doctor_CEO , Metis (1)

Khushru F. Doctor, CEO of Metis, with over 30 years of experience, has led large and small global projects. His extensive qualifications include MCA, former CISA, CSM, PMP, and a Diploma in Innovation and Design Thinking. Amit Saraswat, the CPO, brings over 20 years of experience, backed by a PhD in “Advanced Statistical Methods” and a Bachelor’s Degree from IIT Roorkee. As the first Data Scientist at LendingKart, he pioneered data-driven strategies in the fintech space. His expertise has also been honed through roles as a Data Scientist at Fidelity Investments and Home Credit. The founders are well supported by Mahima Dwivedi, a veteran of International Business Development.

Vikram Ramasubramanian, Partner, Inflection Point Ventures, says, “As credit availability increases, boosting economic growth, credit decision-making must become more robust. With a wealth of qualitative and quantitative information available today, data science is essential for improving credit decisions. Analytics not only assist lenders before lending but also act as early warning systems during the credit term, ensuring credit quality is maintained. While existing applications help lenders with credit decisions, they often fail to adapt to the evolving credit landscape and fully leverage data science. Metis addresses this with more accurate and agile data analytics and early warning systems. Led by Khusru and Amit, who bring deep and complementary expertise, Metis is well-positioned to thrive in this market.”

Metis’ deep understanding of Machine Learning, Artificial Intelligence, and its application for fintechs has enabled the company to develop a unique capability to deep-dive to present contextual understanding and cross-reference data from multiple sources. This allows them to create a comprehensive and unified understanding of the customer, enhancing the precision and effectiveness of financial technology solutions.

Khushru F. Doctor, CEO of Metis Intellisystems, says, “Metis Intellisystems aims to transform the fintech industry using its cutting-edge AI/ML technologies. There is a lack of high-tech, intelligent decision-making processes, even in large fintechs. Metis aims to spearhead the adoption of intelligent systems for decision-making to replace outdated technologies or manual methods. Leveraging our expertise in advanced technologies, experience in Fintech, and passion for problem-solving, Metis seeks to harness and interweave abundant, diverse data sources via cross-referencing and triangulation to champion a paradigm shift to automated intelligence.”

Within two months of Metis’ product launch, the company secured partnerships with financial institutions, both domestic and international, including a prominent national bank. They were invited to The Indian Banks’ Association (IBA) Knowledge Series to present their solutions to large public sector banks. The Fintech AI platform has formalised arrangements with many companies in the past few months. These discussions with multiple banks and NBFCs aim to implement solutions for various use cases such as risk identification, early warning systems, and automated business rule engines (BRE) for lending.

The digital lending sector, in which Metis operates, is projected to grow significantly, from its current valuation of USD 270 billion to USD 1.3 trillion by 2030. This substantial market growth underscores Metis’s vast potential and opportunities as it scales its operations.

Business

Fresh From Farm raises Dollar 2 million in Pre Series A

May 2, 2024 by Sujata Muguda 0 Comments #Ashish Kacholia, #B2B2C platform, #Fresh From Farm, #Fresh From Farm raises Dollar 2 million in Pre Series A, #Inflection Point Venture, #Lucky Investments, #Rohit Nagdewani, #Vikram Ramasubramanian

2nd May 2024, New Delhi: Fresh From Farm, a B2B2C platform for consolidating fresh fruit demand, has successfully raised USD 2 million in a Pre-Series A round with participation from Inflection Point Ventures. Spearheading this investment is Ashish Kacholia, a seasoned investor in the public markets. Fresh From Farm takes charge of retailers’ operations, overseeing procurement, handling, sorting, and distribution, enabling them to focus solely on driving sales.

Rohit Nagdewani, Founder, Fresh From Far

The allocated funds will be utilized for team expansion, tech enhancement, and to introduction of new product lines. This collectively aligns with Fresh From Farm’s growth strategy, positioning them for continued success and expansion in the marketplace.

Fresh From Farm is a leading online platform revolutionizing the way fresh produce is sourced and delivered. With a commitment to quality and convenience, Fresh From Farm (F3) uses a proprietary tech interface to predict and create a demand-supply equilibrium to minimize the wastage of fresh produce. F3, with its unique business model, converts fruit vendors into mini-franchises and sources, grades, and handles fruit for them allowing them to focus on only sales. Rohit Nagdewani the founder of Fresh From Farm, has the experience of founding 2 other ventures in the past.

Vikram Ramasubramanian, Partner, Inflection Point Ventures, says, “The concept of buying fresh fruits sounds fresh and healthy, but the process, however, is not. Behind every purchase lies a chain of individuals—farmers, labourers, and retailers—working tirelessly to bring these products to market. F3 steps in as a transformative force, streamlining this process with its tech-enabled platform. By offering transparency and efficiency, F3 empowers retailers to sell quality produce at fair prices, bridging the gap between affordability and profitability. Moreover, F3 champions sustainability by reducing wastage—a testament to its commitment to a healthier, more equitable future.”

Fresh From Farm revolutionizes the operational landscape for fresh fruit retailers by providing a comprehensive solution. Their diverse Stock Keeping Unit basket encompasses over 15 premium products, delivered directly to the retailers’ doorsteps each morning. This innovative approach not only saves valuable time and energy but also eliminates retailers’ need to make daily trips to the nearest Agricultural Produce Market Committee, resulting in significant cost savings.

Ashish Kacholia, Founder, of Lucky Investments says, “The F3 team is solving a large problem for fresh fruits retailers by handling their sourcing logistics and helping their quality of life. Consolidation of demand in an otherwise fragmented and unorganized market is the key driver of the business. Rohit and his team’s deep expertise on the subject matter and their focus on unit economics allowed us to build conviction for the investment.”

Fresh From Farm operates at an impressive scale, with an annual recurring revenue. Supporting this revenue stream is a dedicated team of 50 professionals, ensuring efficient operations and customer satisfaction. Anchored by a state-of-the-art facility spanning 20,000 square feet in New Delhi, the company leverages cutting-edge technology to uphold quality standards and meet market demand effectively. This robust infrastructure positions Fresh From Farm as a key player in the industry, poised for continued growth and success. Fresh From Farm has been able to deliver a partial exit to its early investors with 400%+ returns.

Rohit Nagdewani, Founder, of Fresh From Farm, says, “Our vision of becoming India’s largest Fresh Fruits company aligns with our efforts to expand aggressively in New Delhi/ NCR. While currently delivering at over 300+ locations every day, our key focus at wastage reduction and efficient demand consolidation have allowed for our retailer partners to earn an average of 29% more than working through traditional channels. On the growth front, we are aiming to touch Rs 100 crore ARR by the end of this calendar year.”

The industry boasts a substantial market size, with a total value of $115 billion. Furthermore, it is experiencing steady growth, with a compound annual growth rate of 5% CAGR. This data underscores the sector’s robust performance and potential for further expansion in the coming years.