Nirveda Cognition, an artificial intelligence company building an enterprise document intelligence and analytics platform, secured an undisclosed amount of funding from Mexico Ventures II Direct Fund.
The company plans to use the new funds to expand its engineering, product development, and sales teams to meet a growing global customer’s demands.
According to the company, its platform enables organizations to make faster, smarter, and more informed decisions to aid revenue growth, cost reduction, quality enhancement, and risk mitigation.
“Nirveda offers a practical implementation path for enterprises that are looking to use AI to take advantage of new opportunities and solve pressing business problems. AI is providing value today, but implementation can often be overly complex and out of the reach of many organizations. Nirveda’s platform approach and implementation expertise address this disconnect and bring practical AI within reach for most organizations,” said Lee Rand, Partner at Sun Mountain Capital.
According to Mani Veluthakkal, CEO of Nirveda Cognition, the funding will support the company’s global expansion of its sales and operations, product development, and technology roadmap. “We are very pleased to have Mexico Ventures’ support as Nirveda Cognition continues to reshape the future of work by making the power of artificial intelligence accessible to every application, every business process, and every employee at organizations across the world.”