DocSumo, a Mumbai based document AI Startup has now secured seed funding of $220000 from Better Capital, Barclays, and TechStars.
DocSumo will use this investment to strengthen its product, sales, and marketing engine, and also foray into newer market like the US.
Rushabh Sheth, Founder and CEO, DocSumo said,
“Even today, most financial services firms outsource their back office operations in India where thousands of people do mundane tasks of entering data and verifying documents. Not only is it costly and takes a long time, but it is also error-prone. Using natural language processing, DocSumo automates the reading of documents to enable companies to make faster and accurate decisions. Our aim is to build a ground-breaking AI solution that can read documents the way humans do and make data trapped in those documents actionable.”
“Documents are the starting point of thousands of workflows at small and large organisations across industries. DocSumo is building on the cutting edge advancements in computer vision and natural language processing to extract data and context inside documents to enable automation of document workflows like never before”, said Vaibhav Domkundwar of Better Capital.