Data Science Wizards Secures $1.4 Million Seed Funding to Propel AI Innovations

Data Science Wizards (DSW) has successfully raised $1.4 million in a seed funding round, achieving a valuation of $16.4 million. This round was led by an angel investor, marking a significant milestone for the Mumbai-based company. The funds will be directed towards enhancing their deep-tech AI platform, UnifyAI, and expanding their team to support ongoing development.

Focused on Transformative AI Solutions

Founded in 2019 by a team of visionaries—Pritesh Surendra Tiwari, Ramesh Khare, Sandeep Khuperkar, and Shivam Thakkar—Data Science Wizards aims to revolutionize industries through advanced AI solutions. The company is dedicated to delivering tangible results and facilitating rapid deployment, enabling businesses to embrace AI and drive digital transformation.

• Key Objectives:
  • Enhance the UnifyAI platform for better performance.
  • Strengthen the team to support growth and innovation.
  • Develop domain-specific solutions for various industries.

One of the standout initiatives from DSW is the upcoming launch of insurAInce, a solution tailored for the insurance sector. This innovative offering leverages UnifyAI to address the unique challenges faced by insurers, focusing on enhancing risk management, operational efficiency, and fostering innovation.

insurAInce: A Game Changer for the Insurance Sector

The insurAInce solution is designed to facilitate the rapid implementation of AI and GenAI use cases within weeks. It targets critical areas such as:

• Claims Processing: Streamlining the claims workflow for faster resolution.
• Risk Assessment: Improving the accuracy of risk evaluations.
• Fraud Detection: Enhancing the ability to identify fraudulent activities.
• Customer Engagement: Boosting interactions and satisfaction among policyholders.

What sets insurAInce apart is its ability to integrate seamlessly with existing legacy systems, allowing insurers to adopt AI without disrupting their ongoing operations. Additionally, the platform includes built-in compliance and regulatory features, ensuring that it meets the stringent standards of the insurance industry.

Expanding Horizons Across Industries

Beyond the insurance sector, DSW is also planning to roll out domain-specific solutions built on the UnifyAI platform for other industries, including banking, telecom, retail, and manufacturing. This strategic move aims to transform how these sectors leverage AI, transitioning from mere experimentation to full-scale production.

Industry leaders such as Canara HSBC Life Insurance, Manipal Cigna, and Castler have already integrated UnifyAI’s solutions into their operations, reporting significant improvements in their processes. This strong support from established players underscores the potential impact of DSW’s innovations.

As Data Science Wizards continues to grow and innovate, the company is well-positioned to lead the charge in AI adoption across various sectors, driving digital transformation and delivering measurable results.