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SaaS companies have typically viewed the US market as more favourable to list, but with better valuations and growth expectations, the Indian market is attracting some of them.
SiftHub, led by Manisha Raisinghani, raises $5.5M from investors like Matrix Partners India. The platform integrates with various workplace apps to enhance sales processes and has signed up 18 clients. SiftHub uses retrieval augmented generation (RAG) technology and fine-tuned large language models from Azure OpenAI Service.
SiftHub was founded in 2018 by Manisha Raisinghani, the cofounder and former chief technology officer of SaaS startup LogiNext Solutions
At least half a dozen investors ET spoke to said it will be crucial for early-stage software companies to showcase how they are leveraging AI in their products to attract new investments in 2024.
Generative AI Startups: “We are at a point in SaaS where we will see ‘mass retooling’ of companies in 2024. Category after category, companies will figure out how to leverage AI with the intent to make their products 10x better,” said Rajan Anandan, managing director of Peak XV Partners (formerly Sequoia Capital India & Southeast Asia) & Surge.