Gen-AI developer EMA raises $25 million, aims to prioritise R&D and market expansion

Enterprise-focused generative AI (Gen-AI) solutions developer, EMA, has successfully raised $25 million in a funding round led by Accel and Prosus Ventures, along with participation from various other investors.

Surojit Chatterjee, founder and CEO of EMA, in an interview with CNBC-TV18, emphasised that the majority of the funds would be allocated to Research and Development (R&D), highlighting the company's commitment to exploring innovative and uncharted territories within the deep tech space.

Chatterjee explained, "We are a deep tech company, and what we are building is very new, is often uncharted territory. So a lot of the fundraise will go into R&D. And the rest of the money will go into marketing and sales as well."

As part of their latest developments, EMA unveiled a groundbreaking solution named the "Universal AI Employee." This innovative AI employee is designed to replicate the capabilities of a human counterpart. It boasts the ability to engage in conversations, understand context, receive continuous human feedback, make informed decisions, and collaborate seamlessly with human employees on intricate projects.

In a similar development, Digantara, a space-tech startup specialising in space situational awareness, secured $2 million in funding from Aditya Birla Ventures and SIDBI Venture Capital. This investment marks the final close of Digantara's Series A funding stage at $12 million.

Anirudh Sharma, founder and CEO of Digantara, revealed the company's focus on launching satellites to track space objects, particularly those as small as a single centimeter in orbit. Sharma stated, "We are launching 40 satellites in the next few years, helping us track everything in the lower earth orbit and creating an infrastructure layer currently absent."

The funds will predominantly be utilised for developing both space-based and ground-based hardware. Digantara aims to establish a comprehensive infrastructure for object tracking, including a ground-based system in Ladakh to monitor objects in the geostationary belt.

Having previously raised $10 million in June 2023, Digantara has made significant strides in generating revenues, primarily from defence and government contracts.

Moreover, artisanal bakery brand The Baker's Dozen successfully secured Rs 33 crore in a pre-Series A funding round. The funding infusion is geared towards expanding the brand's presence beyond metro cities and enhancing the mass-premium segment of its product range.

The Baker's Dozen, known for its commitment to quality and authenticity, aims to revive attention to sourdough bread and elevate its position in the market. CNBC-TV18’s Aishwarya Anand reports on the startup's strategies to capture market attention and reshape the artisanal bakery landscape.