AI startup Simplismart successfully secured $7 million in a Series A funding round, led by Accel with additional backing from Shastra VC, Titan Capital, and angel investors such as Akshay Kothari, co-founder of Notion.
The legal advisors for Simplismart in this transaction were Goyel & Goyal, represented by a team comprising Partner Akshit Goyal, Senior Associate Shubham Agrawal, and Associate Rishi Shah.
Simplismart had previously raised capital through a seed round from Titan Capital and Shastra VC earlier in 2023, following a pre-seed round led by First Cheque and Shastra VC in 2022. Goyel & Goyal had also acted as advisors during the previous seed round.
Founded in 2022 by Amritanshu Jain and Devansh Ghatak, Simplismart has created an innovative “inference engine” that streamlines the process for software engineers when developing Generative AI products, reducing response times for underlying models. The fresh funding will be directed towards further product development, scaling recruitment efforts, and bolstering sales and marketing initiatives.
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