Revenue Growth AI company Samya.AI Raises $6M in Seed Funding led by Sequoia India
Ex-Mu Sigma leadership team members including Shelly Singh, Deepinder Dhingra and Pavan Palety partner to create a next gen Enterprise AI company
CHICAGO, Jan. 20, 2020 /PRNewswire/ -- Samya.AI, an enterprise Revenue Growth AI SaaS company, announced today that it has raised $6 million in seed round funding led by Sequoia India.
Samya's other initial investors include Ashish Gupta (Founder of Junglee.com and Helion VC), Deb Henretta (Partner, G100 Companies and Ex-Group President, P&G), Arijit Sengupta (Founder of Kradle Ventures and Antuit Inc), Deborah Kops (Ex COO and Board Member of Antuit Inc and Ex CMO of WNS) and Sandeep Sugla (Founder of Marketsandmarkets Inc)
Samya.AI has been founded by Shailendra Singh, Deepinder Dhingra and Pavan Palety, experienced leaders who have previously held leadership positions at organizations including IBM, Noodle.ai, Mu Sigma and MarketsandMarkets. Shelly Singh and Deepinder Dhingra have been instrumental in scaling Mu Sigma to a unicorn with industry leading margins. Shelly held the position of Head of Sales & Commercial Effectiveness while Deepinder was Head of Products & Strategy. Pavan was leading the founder's office and was Europe sales leader.
The global consumer packed goods (CPG) industry is losing 8%-10% revenue growth potential due to increased scale, complexity and volatility at the intersection of demand and supply operations. This loss is estimated to be $150Bn in the US alone.
"Demand-supply interactions are becoming very unpredictable and vulnerable, resulting in huge lost revenue opportunity. This trend will continue unless addressed proactively, especially when a large number of CPG companies have been facing saturating growth," said Co-founder and CEO Shailendra 'Shelly' Singh.
Most of this loss is due to inefficiencies at the intersection of the core sales/distribution, pricing & promotions and inventory operations. Each of these teams often work in silos, operate on different legacy systems, optimize for different metrics and are unable to anticipate and proactively learn emerging patterns, blind-spots and interdependencies in their activities. The impact of external factors such as evolving weather conditions, macro-economics, consumer preferences further escalates the problems.
Samya.AI is the only Revenue Growth AI company in the CPG space addressing these issues holistically. Their unique approach maps use the power of AI/ML methods such as deep learning, probabilistic machine learning and reinforcement learning that can adapt to the unique challenges of this sector. With purpose-built and interconnected AI SaaS modules, Samya.AI is driving disruptive value and 10X improvement over other solutions.
"AI/ML powered learning and recommendation systems that augment front line decision-makers are needed to plug revenue leakage," said Deepinder Dhingra, Co-founder, COO & CPO. "We are building a category defining product by assembling the best AI/ML and Engineering team in this space based out of Bangalore."
"I have had the privilege to work closely with Shelly and Deepinder for many years at Mu Sigma, and am very excited to get a chance to work with both of them and Pavan in building Samya.AI.," said Shailendra Singh, Managing Director, Sequoia Capital (India) Singapore. "They are pursuing a bold vision and the early results of 'proof of value' pilots with global CPG companies are very exciting. Our goal here is to help build one of the leading cross-border AI SaaS companies out of India," he added.
Samya is currently running proof of value engagements with a few Fortune 500 companies and seeing really promising initial results.
"In the initial phase we are being very selective about partnering with visionary customers as this needs close collaboration with multiple stakeholders. In the long term we want to build a large and diverse ecosystem of partners and advisors who can help us drive customer success globally," concluded Pavan Palety, Samya's third Co-founder and Chief Customer Officer.
About Samya.AI
Samya.AI is the only Revenue Growth AI company in the CPG space operating at the intersection of demand and supply operations. Samya.AI brings the power of deep learning, probabilistic machine learning and reinforcement learning approaches together with deep domain expertise to help CPG companies recapture revenue growth potential. Samya.AI is headquartered in Chicago, USA with its offices in London, UK and main product and R&D centre in Bangalore, India.
For media queries contact:
Pavan Palety
Pavan.palety@samya.ai
+44 7762 562714
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