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Artificial intelligence

PointAI Secures Rs. 47 Crore in Pre-Series A Funding Round Led by Yali Capital

Strategic Insights

— 1 min read

Deep-tech company PointAI, formerly known as Try ND Buy, has successfully raised Rs. 47 crore in a Pre-Series A funding round led by Yali Capital, Lip-Bu Tan, and Tremis Capital. The company plans to utilize the funding to accelerate product innovation, expand its market presence, and strengthen its technological capabilities. PointAI's proprietary parallel AI architecture enables it to deliver a 100% real-store shopping experience for online customers, with features such as virtual try-on, product mixing, and interaction with virtual sales assistants.

Key Takeaways:

  • PointAI has secured Rs. 47 crore in a Pre-Series A funding round led by Yali Capital, with Lip-Bu Tan and Tremis Capital also participating.
  • The company plans to utilize the funding to accelerate product innovation, expand its market presence, and strengthen its technological capabilities.
  • PointAI's proprietary parallel AI architecture delivers a 100% real-store shopping experience for online customers, with features such as virtual try-on, product mixing, and interaction with virtual sales assistants.
  • The company's technology enables high-precision media outputs, including images, videos, and 3D assets, using significantly lower GPU resources and shorter processing times.
  • PointAI's client portfolio includes industry leaders such as Amazon SPN, Flipkart, Myntra, and Rakuten (Japan).
  • Nitin Vats, Founder and CEO of PointAI, stated that the company's transformation from Try ND Buy to PointAI marks a new chapter in its journey to redefine online shopping experiences.
  • Yali Capital's investment reinforces PointAI's vision and fuels its mission to push the frontiers of AI and computer vision for the global e-commerce industry.

Statistics:

  • PointAI has secured Rs. 47 crore in Pre-Series A funding.
  • The company processes media files in 1-2 seconds, with a cost up to 90% lower than popular GenAI-based alternatives.
  • PointAI has a client portfolio of 5 industry leaders, including Amazon SPN, Flipkart, Myntra, Rakuten, and one other major e-commerce company.
  • The company has over 70 global patents for its proprietary parallel AI architecture.
  • PointAI has completed over 10 million in overall funding.

Sources:

  • PointAI website
  • Yali Capital website
  • Newsvoir
  • PTI News

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