Generative AI (Gen-AI SaaS) start-up Alchemyst AI has raised $300,000 in a pre-seed funding round led by Inflection Point Ventures. The round also saw participation from 100 Unicorns and Early Seed Ventures. The funds will be utilised to bolster the company’s Graphics Processing Unit (GPU) and technology infrastructure, enhance team development, scale operations and drive growth.
Uttaran Nayak, Co-Founder and Chief Executive Officer (CEO), Alchemyst AI, explained, “At Alchemyst AI, we are pioneering the development of fully autonomous gen-AI digital employees which can interact with each other and perform highly intelligent functional components across enterprise teams. We are crafting the future of workforce and spearheading the next industrial revolution. These gen-AI digital employees democratise the entire workforce without human intervention at any stage. Over the past 12 months, we have had a unique vantage point as we have watched the bot/agent/AI digital employee landscape evolve and transform. We also observed that most of the application layer companies are dependent on generic foundational models to carry out automation in the workforce. These dependencies often slow down a company’s scalability and make it defenceless and vulnerable. Alchemyst AI was born to solve these challenges, with a technological understanding and non-dependency on any generic LLM models.”
Alchemyst AI’s digital employees feature adaptive and continual learning capabilities, autonomously gathering context from the data provided by users to influence performance. This innovation is positioning the startup as a key player in reshaping enterprise productivity.
In line with this, Dr Apoorva Ranjan Sharma, Co-Founder, 100Unicorns, highlighted the startup’s potential, saying, “At 100unicorn, we believe in the impact of Generative AI in transforming everyday lives. We have further strengthened our investment strategy in this space with Alchemyst AI. The startup has created virtual employees with human-like capabilities that can seamlessly integrate into business workflows, creating a smarter, more intelligent and more efficient workforce in the future. We are thrilled to support a startup that is genuinely reshaping automation with Generative AI and solving the problem of a dearth of tech talent for mid to large-size businesses.”
Alchemyst AI is poised for expansion across major global markets, including India, the USA, MENA and South East Asia, as the global Gen AI market is projected to reach $330 billion by 2030. The current market size is estimated at $3 billion in India and $37 billion globally, indicating immense opportunities for startups like Alchemyst AI in the near future.