Sheryl Sandberg, the former chief operating officer of Meta, has made her second investment in Simplismart, a GenAI firm located in Bengaluru, according to sources.
As a sign of her ongoing interest in the Indian startup scene, notably in GenAI, Sandberg is taking part in a $7 million fundraising round for the company. According to several sources, Accel is leading the round.
Using its high-speed inference engine, which is accessible across several cloud providers for scalable and affordable solutions, Simplismart, created by BITS Pilani alumni Amritanshu Jain and Devansh Ghatak, helps clients implement GenAI models. Prior to this, the business received seed round funding from Titan Capital, Shastra VC, and First Cheque. Among its clients are Mobavenue, Dubverse, and Vodex.
“Investors in the Valley are actively evaluating generative AI, and Simplismart just made the cut; the deal will be announced soon,” a source said.
Jain held a variety of machine learning engineering positions at Oracle and Capillary Technologies before founding Simplismart. Conversely, Ghatak held various engineering positions at Google and Avaamo. Sandberg’s only known connection to the Indian startup scene before this investment came from being a customer of US investment management company Iconiq Capital, which has provided funding to startups like Flipkart.
Prior to the publication of this article, Sandberg did not reply to an email requesting a comment.
Jain from Simplismart said that Sandberg is not taking part in any funding rounds for the business. Accel has previously been reported to have invested in the GenAI firm. Sandberg has also invested in Ema, another GenAI startup that automates intricate operations through straightforward dialogues, boosting efficiency across an organization’s responsibilities. Ema’s no-code platform enables users to create and implement unique AI agents (personas) using natural language, as previously reported.
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