Kognitos, a trailblazer in generative artificial intelligence (AI) for business automation, has successfully concluded a $20 million Series A funding round, elevating its total venture capital to an impressive $30 million.
This infusion of capital will empower the company to fortify its platform capabilities, forge new partnerships, integrate with various business applications, and facilitate broader adoption of its automation platform, according to a press release issued on Thursday.
Origins and Vision
Founded in 2020, Kognitos aspires to redefine the landscape of business applications by enabling machines to comprehend and communicate in human language. It harnesses generative AI and a deterministic English interpreter to eliminate the risks associated with AI, such as hallucinations and biases, while delivering the advantages of generative AI to business users.
Key Advantages of Kognitos
Kognitos distinguishes itself by expediting automation without necessitating traditional automation skill sets. This unique capability allows organizations to streamline processes and cut costs while empowering business users familiar with the English language. Renowned companies across diverse industries have already embraced Kognitos to enhance their operations.
Tackling Complex Processes with NLPA
Kognitos addresses the complexity of automating intricate processes by leveraging natural language processing automation (NLPA). This empowers business users to automate processes using simple human language. The platform seamlessly integrates with enterprise resource planning (ERP), customer relationship management (CRM), and other common business applications, offering a dynamic learning experience that continually refines automation based on user interactions.
Kognitos introduces the Exception Center, an interface designed for business users to handle exceptions effectively. The platform also unveils multi-modal automation functions, including voice transcription, image comparison, image manipulation, QR code support, data visualization, and PDF form filling.
Navigating the Pandemic Challenges
Binny Gill, the co-founder of Kognitos, emphasizes the company’s role in addressing the challenges imposed by the pandemic on supply chains. He highlights how organizations can leverage technology, particularly AI, to enhance productivity, agility, and resilience. Gill contends that automation can eliminate inefficiencies without resorting to drastic measures like layoffs.
The Human Touch in Automation
Gill envisions a world where machines understand and communicate in the language of humans. Inspired by his son’s programming experience during the pandemic, he founded Kognitos to allow business users to automate tasks using plain English, eliminating the need for individuals to learn programming languages.
Funding Milestone and Future Plans
In a significant development, Kognitos has secured $20 million in a funding round led by Khosla Ventures, with participation from Clear Ventures, Engineering Capital, and Wipro Ventures. This funding, bringing the total to $30 million, will be dedicated to product development and expanding partnerships and integrations with third-party business apps.
Industry Recognition and Future Outlook
Kognitos’ growing list of clientele, including major names like PepsiCo and Wipro, underscores its industry recognition. While specific financial details remain undisclosed, Kognitos stands as a testament to the evolving role of humans and technology in business. Gill believes that the company’s unique value proposition will propel it into the next era of the technology revolution.
In conclusion, Kognitos’ innovative approach to business automation, driven by generative AI and a commitment to human-friendly language, positions it as a significant player in the ever-evolving landscape of digital transformation.