AI startup Simplismart has raised a Series A Round of $7 million led by Accel, with participation from Shastra VC, Titan Capital, and angel investors like Akshay Kothari, co-founder of Notion.
Goyel & Goyal advised Simplismart on this investment transaction.
The transaction team consisted of Akshit Goyal (Partner), Shubham Agrawal (Senior Associate), and Rishi Shah (Associate).
The Company had previously raised a seed round from Titan Capital and Shastra VC, earlier in 2023, as well as a pre-seed round led by First Cheque and Shastra VC in 2022. Goyel & Goyal had also advised Simplismart on the previous seed round.
Founded in 2022 by Amritanshu Jain, and Devansh Ghatak, Simplismart has developed a new “inference engine”. The product is a standardised language that software engineers can use when building GenAI products in order to reduce the time it takes the underlying model to respond to queries. This investment will enable the company to engage in further product development, increased recruitment, and for investment in sales and marketing.
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