AI Startup Raises $1.5 Million for Empowering Supply Chain Organizations

July 7, 2020

INDIANAPOLIS — ConverSight.ai, an artificial intelligence and adaptive analytics platform company, today announced that it has raised $1.5 million in a Series Seed round led by Elevate Ventures, with participation from TechStars, Bread & Butter Ventures, Angel Round Table, Atland Ventures, and Charmides Capital.

This announcement comes less than one year after raising $700,000 led by Angel Round Table. The Indianapolis-based startup plans to use the current round of funding to invest in its technology, hire more sales talent and expand its business.

“With this round, we will invest in growing our sales and marketing efforts as we focus on helping supply chain organizations react to market shifts impacted by COVID-19 while building resilience for future success,” said CEO Ganesh Gandhieswaran.

ConverSight.ai added two seats to its board of directors. Elevate Ventures has appointed Thomas Millay, founder and principal consultant of TechXcl, to serve as its representative.

“I’m excited to represent Elevate Ventures on the board of ConverSight.ai,” said Millay. “We believe that the voice-enabled AI-driven analytics market will continue to grow significantly and will become a very large market over the next few years. The company is well positioned to capitalize on this market growth based on their leading technology and traction with enterprise customers.”

ATHENA, ConverSight.ai’s AI assistant for supply chain leaders, discovers insights automatically, delivers recommendations proactively, answers user questions instantly, and performs transactions through simple natural conversation. With its ability to connect distributed data systems to easily collect insights, ATHENA has become an integral part of many supply chain companies.

The company has seen significant traction in the enterprise customer base over the past year including such manufacturers and distributors as Cargill, Bernell, and Small Lot Wine. ConverSight.ai also has been recognized across the country for innovative developments, winning the People’s Choice Award for SXSW’s Startup of the Year pitch competition as well as being selected as a nominee for Indiana’s TechPoint MIRA Award Innovation of the Year.