e& capital invests in Ikigai Labs to boost enterprises
- 28 Aug 2023
e& capital announced its participation in the Series A financing round for Ikigai Labs, a pioneering firm harnessing the power of generative AI for tabular data.
Ikigai Labs has secured $25 million in this round, with contributions from e& capital, Premji Invest, and Foundation Capital.
The funding will advance Ikigai Lab’s vision of transforming enterprises’ utilisation of AI, enabling organisations to master AI through the Ikigai Academy and the easy, fast, and powerful Ikigai platform.
Ikigai Labs offers a no-code AI solution, helping organisations address the challenges of harnessing large datasets and ensuring accurate forecasting. The company’s innovative approach combines state-of-the-art time series forecasting with three core tools: aiMatch for data reconciliation, aiCast for prediction, and aiPlan for scenario planning.
“I see the challenges that individuals face in understanding what can be done with their tabular data, together with the struggle for enterprises to leverage the latest technological innovations in AI,” said Devavrat Shah, Co-founder and Co-CEO, Ikigai Labs, and Andrew (1956) and Erna Viterbi Chair Professor of AI and Decisions at MIT.
“With Ikigai, we see a clear opportunity to help the global workforce harness the power of AI. We are excited to work with e& capital, Premji Invest, Foundation Capital, and luminaries like Diane Greene, who are enabling us to make Generative AI for tabular data truly effective across enterprises.” Eddy Farhat, Executive Director, e& capital, said: “We believe Ikigai is poised to revolutionise the way businesses engage with AI.
