by Priya Jadhav
Mumbai, December 10, 2019: GenY Labs has announced today that it has raised seed round funding totaling approximately $700k. The round was led by Mr. BVR Mohan Reddy, Executive Chairman of Cyient and other Indian and Canadian investors. This funding will be used for further development of their unique IP and business expansion in North America.
The company was co-founded by the trio of IIT alumni Ravi Jain, Giridhar Rao Apparusu and Yashwant Kumar. The founders have been entrepreneurs previously and bring together domain expertise in consumer research as well as AI and deep learning. GenY Labs, based in Hyderabad (India) and Toronto (Canada), provides license to Auris, its AI platform which curates consumer insights in real time.
GenY Labs operates in the B2B SaaS space with its platform Auris, which empowers CMOs with curated industry specific customer insights to improve their customers' experience and customer engagement. These insights are generated with Auris’ unique artificial intelligence engine and analytics which acts on unstructured consumer data. Auris is transforming the way consumer research is conducted and is already being used by industry-leading brands across financial services, healthcare, e-commerce, education and consumer goods and services domains among others, globally.
The seed round was led by Mr. BVR Mohan Reddy and was supported by other investors and entrepreneurs. Mr. Devdatt Shah, former Managing Partner of Brookfield Asset Management and former CEO of ICICI Securities, and Mr. Vikram Khurana, a serial entrepreneur, participated from Canada.
Commenting on the development, Ravi Jain, CEO at GenY Labs said, “It’s fantastic to have the support of such accomplished investors as we look to grow the company. Our aspiration is to build a global product company driven by innovation and IP.”
Mr. BVR Mohan Reddy, Founder & Executive Chairman of Cyient Ltd. said, “We’re excited to participate in the seed round of GenY Labs. We are impressed by what the team accomplished in a short time and look forward to supporting their vision”
GenY Labs joins several India-based B2B SaaS players who have hit their fundraising milestones this year.
About GenY Labs: GenY Labs, founded in 2016, is an ‘alternative data’ and insights company. GenY Labs’ Auris platform helps derive actionable insights by analyzing data across public and proprietary sources. Auris is being used to augment consumer research by leading brands across the world. GenY Labs operates out of their Toronto and Hyderabad offices.