Docsumo, a document AI start-up that helps enterprises make automated decisions from customer documents, has raised $3.5 million in seed capital.
The funding round was led by Common Ocean with participation from Fifth Wall, Arbor Realty Trust, and existing investor Better Capital.
The Singapore-based start-up, with a base in Mumbai, said it would use the proceeds to expand to the North American market and grow the team.
The three-year-old start-up helps enterprises capture, validate and analyse data from unstructured documents for getting automated decisions.
“We enable companies to unlock their efficiencies and act on incoming documents in real time,” Rushabh Sheth, Co-Founder, Docsumo, said.
Docsumo was incubated at the Techstars London accelerator in 2020 and raised a Pre-Seed round from Barclays, Sequoia and Jiten Gupta of Jupiter Money.