Belgaum-based digitisation start-up Ecobillz has raised an undisclosed amount in a pre-Series A round led by IIM Ahmedabad alumni-backed 92Angels.
Ecobillz is a platform which leverages artificial intelligence (AI) and machine learning (ML) to digitise and aggregate information from documents.
The funding will be used by the start-up for the expansion of the product and engineering teams and to augment the sales and go-to-market capacity.
Founded in 2016 by Ameet Patil and Nitesh Singh Rathore, Ecobillz has solutions that can digitise documents downloaded from any software. Apart from its capacity of aggregating information through AI/ML, Ecobillz’s platform can derive insights from aggregated data through advanced analytics.
92 Angels is an angel network founded by Indian Institute of Management – Ahmedabad alumni from the 1992 batch. Apart from participating in pre-seed and seed-funding rounds, the network also mentors start-ups on strategic concerns and helps them gain wider access to senior professionals.
AAS Regina Legal, led by Founding Partner Ankita Singh and Strategic Advisor Ajay Anand and Associates Shubham Patel and Yash Vardhan Singh advised the Investors. AAS Regina Legal team, with core expertise on advising investors and start-ups, assisted the Investors through the entire lifecycle of deal commencing from structuring the transaction, drafting and negotiating the term sheet, transaction documents and eventually closing. The Company was represented by DMY Legal led by Mukesh Yadav.