Nanonets, an AI-based document workflow automation platform, has raised $10 million in a Series A round led by Elevation Capital.
Angel investors, including Amar Goel (PubMatic), Gautam Kumar and Kushal Nahata (FarEye), Krish Subramanian and Rajaraman Santhanam (Chargebee), Vara Kumar Namburu and Khadim Batti (Whatfix), Ashish Gupta (Helion), Nakul Aggarwal, and Ritesh Arora (BrowserStack), and Vetri Vellore (Ally), also participated in the round. Earlier investors included Ashton Kutcher, Y Combinator, SV Angel, and Soma Capital.
The startup will use the funds to expand its engineering and AI/ML teams and hyper-scale its operations and go-to-market teams in new geographies.