vPhrase Analytics, an Artificial Intelligence platform that helps companies communicate insights in data, in words, at scale has received an undisclosed amount in seed from Venture Catalyst Angel fund.
The seed investment was led by Apoorv Ranjan Sharma and Daud Ali from Venture Catalysts, while other prominent Angels from the VCats networks included Anil Jain, Anuj Golecha, Anirudh Damani, Vishal Maheshwari, Nitin Aggarwal, Mayank Shah, Jayesh Shah and Anand Ladsariya.
In addition to VCats Angels, 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 team at vPhrase as an Angel observer. Also, the platform is partially funded by Centre for Innovation Incubation and Entrepreneurship (CIIE) at the Indian Institute of Management, Ahmedabad (IIM-A).
vPhrase helps companies make their reports easier to understand for their employees and customers. By writing personalised narratives for each employee/customer and highlighting all the important points which need attention, vPhrase optimises time management by streamlining the understanding process and gives employees and consumers more time to take actions.
Talking about this fresh cash infusion, vPhrase founder Neerav Parekh tells us,
In today’s digital age, companies are drowning in data. However, to make sense of the data, they are using dashboards and visualisations. But visualisations are not insight. You need to interpret visualisations to draw insights from them. And to interpret, you need expertise and time without which the insights never get fully understood. Our technology helps businesses communicate the insights in their data, to their people, in an easy to understand narrative format.”
vPhrase Analytics is a rather interesting platform. This startup’s patent-applied platform, Phrazor, analyses data, derives insights and then communicates those insights, in words, in multiple languages. By automating the work of analysis and communication which has hitherto been the forte of expensive domain experts, vPhrase is bringing down the cost of delivering insights from data analytics to a fraction and is revolutionising the way content will be approached across the globe.
PHRAZOR gathers the data, structures the facts and in the end applies language to present the reader with humanized, targeted narratives. At any given point of time, PHRAZOR churns out thousands of such articles and slightly tweaks to suit each type of audience, even be it an audience of one.
The articles are nothing but a bridge between numbers to knowledge. PHRAZOR describes the data in words, but most importantly generates insights that help with decision making
Owing to this highly sophisticated data analytics platform which vPhrase provides, the startup is already working with two of top 5 private Indian banks besides a bunch of other companies in insurance, broking, media and engineering space. The company has won the ‘Economic Times Power Of Ideas’ content where 19000 teams from across the country participated. They have also been selected for ‘Leaders In Innovation Fellowship’ by Royal Academy of Engineering, UK for the innovative work they are doing in the AI space.