vPhrase Analytics Solutions Pvt. Ltd, an artificial intelligence-enabled data analytics firm, has raised an undisclosed amount of seed funding from Mumbai-based Venture Catalysts (VCats)
Founded by Neerav Parekh, vPhrase, helps companies convert data to insightful and actionable stories and comprehensible reports for employees and customers. The investment was led by Daud Ali and Apoorv Ranjan Sharma from Venture Catalysts, along with other key investors from VC network.
Daud Ali, who led the Angel investment for VCats, said, “ With its AI-enabled data analytics and insight delivery, vPhrase was the perfect candidate for the seed investment. We are confident that vPhrase will set an example of sustainable startup growth which will use pure technology play as a growth driver instead of depending upon marketing and other customer acquisition costs like so many of today’s unicorns.”
Anil Chokhani from the Canada-based Zone Startups also co-invested in the seed funding round, which saw Zone Startups founder, Matt Saunders, joining the vPhrase team as an angel observer.
Zone Startups India is an Indo-Canadian joint venture of Ryerson Futures Inc, Toronto, and the BSE Institute, a subsidiary of the Bombay Stock Exchange. Since the last two years, Zone Startups India has accelerated over 70 startups, many of which have gone on to raise venture funding. Furthermore, the platform is partially funded by Centre for Innovation Incubation and Entrepreneurship (CIIE) at the IIM Ahmedabad.
Neerav, founder of vPhrase Analytics, commented, “In today’s digital age, companies are drowning in data and using dashboards and visualisations to make sense out of it. However, visualisations are not insight. In fact, you need to interpret visualisations to draw insights from them. Our technology helps businesses communicate the insights in their data, in an easy format.”
vPhrase’s patent-pending platform, Phrazor, analyses data, derives insights and communicates those insights in words and in multiple languages. The startup is already working with two of the top five private Indian banks, and some companies in insurance, broking, media and engineering space.
Moreover, the company has many laurels to its credit. From winning the ‘Economic Times Power Of Ideas’ content where 19000 teams participated from across the country, to being selected for ‘Leaders In Innovation Fellowship’ by Royal Academy of Engineering, UK for the innovative work they are doing in the AI space; they are a fast growing firm to watch out.
