Y Combinator startup Nanonets uses AI to extract data from documents. Check out the 17-slide pitch deck it used to raise $10 million.
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- Data extraction startup Nanonets has raised $10 million in a Series A funding round.
- The San Francisco-based firm was formerly backed by Y Combinator and Ashton Kutcher.
- Insider got an exclusive look at the pitch deck Nanonets used to bring investors on board.
Nanonets, a startup that uses artificial intelligence in extracting information from documents, has raised $10 million in a Series A funding round backed by Elevation Capital.
Founded in 2017, the San Francisco-based firm is working to disrupt the burgeoning RPA (robotic process automation) market, valued by Bain at $65 billion globally.
Nanonets’ promises its no-code platform makes it easier to extract and export information from documents such as scanned invoices, receipts, and ID such as driving licenses and passports.
“The Series A funding is a critical next step in bringing Nanonets’ world-class document workflow solutions to customers across the globe,” said cofounder and CEO Sarthak Jain.
As well as Elevation Capital, the Series A round saw investment from Amar Goel, founder and chair of adtech firm PubMatic, alongside Chargebee cofounders Krish Subramanian and Rajaraman Santhanam. The firm has previously raised investment from Y Combinator and Hollywood actor Ashton Kutcher.
Insider got an exclusive look at the pitch deck Nanonets used to bring investors on board. Check it out below: