Data Science Wizards Raises $1.4M Seed Funding, Launches Next-Gen AI Solution for Insurance
The Founding Team at DSW
DSW secures $1.4M seed funding to boost UnifyAI and launch insurAInce, an AI solution transforming the insurance industry to build Use Cases swiftly.
UnifyAI has truly transformed our GTM with respect to creation and deployment of analytical models. With DSW's insurance-specific solutions, we’ve been able to move use cases into production quickly.”
DUBLIN, DUBLIN, IRELAND, October 16, 2024 /EINPresswire.com/ -- Data Science Wizards (DSW)1, a pioneering AI innovation company, today announced it has secured $1.4 million in seed funding.— Ritesh Rathod - Chief Strategy & Data Officer, Canara HSBC Life Insurance
Building on a pre-seed round of $450,000, this latest seed funding of $1.4 million from an angel investor raises DSW’s valuation to $16.4 million. The investment will be used to further develop and enhance their deep-tech AI platform, UnifyAI3, and strengthen the team. As part of this, DSW is launching 'insurAInce2,' a solution tailored specifically for the insurance sector, leveraging UnifyAI to deliver advanced, AI-driven transformation for the industry.
UnifyAI, DSW’s deep-tech AI platform, is the driving force behind insurAInce, a solution tailored specifically for the insurance sector. insurAInce leverages UnifyAI’s powerful capabilities, offering pre-learned models and specialized tools to address the unique challenges of the insurance industry—enhancing risk management, operational efficiency, and innovation. This new funding will be used to further strengthen both UnifyAI and the insurAInce solution, ensuring scalability and adaptability for enterprise-level AI adoption. In the coming months, DSW will also introduce domain-specific solutions built on UnifyAI for banking, telecom, retail, and manufacturing, transforming how industries harness AI to move from experimentation to full-scale production.
“UnifyAI is a game-changer for enterprises looking to fast-track AI adoption," said Sandeep Khuperkar, CEO and Founder, Data Science Wizards. "Our platform takes AI/ML and GenAI use cases from concept to production with confidence, predictability, and scale. Businesses are experiencing up to 60% reductions in development costs and 60-80% faster production timelines, transforming months of effort into just 3-4 weeks.”
UnifyAI is ISO 27001 certified and SOC II Type 2 compliant, underscoring the company’s commitment to security and regulatory compliance. It is also expected to achieve HIPAA certification by October 2024. These rigorous standards ensure that both UnifyAI and insurAInce are equipped to handle the most sensitive data in highly regulated industries like insurance.
UnifyAI has received tremendous support from industry leaders such as Canara HSBC Life Insurance, Manipal Cigna and Castler, all having achieved significant results after integrating UnifyAI's solutions into their operations.
"UnifyAI has truly transformed the GTM at Canara HSBC Life Insurance with respect to creation and deployment of analytical models. With DSW building insurance-specific solutions on top of this robust AI platform, we’ve been able to move use cases into production quickly and with built-in CI/CD capabilities we are able to maintain efficiency and adaptability in our operations," said Mr. Ritesh Rathod – Chief Strategy and Data Officer, Canara HSBC Life Insurance.
Designed specifically for insurers, the insurAInce solution enables rapid implementation of AI and GenAI use cases within weeks across key areas such as claims processing, risk assessment, fraud detection, and customer engagement. Its seamless integration with existing legacy systems ensures insurers can adopt AI without disrupting ongoing operations, while built-in compliance and regulatory features meet the industry’s stringent standards.
With the insurAInce solution, DSW aims to solidify its position as a leader in AI-powered solutions for the insurance industry.
About Data Science Wizards:
Data Science Wizards (DSW) is a leading AI innovation company dedicated to transforming industries through advanced, purpose-built AI solutions. By focusing on tangible results and rapid deployment, DSW empowers businesses to accelerate AI adoption and drive digital transformation.
Sandhya Oza
Data Science Wizards (DSW)
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1 https://www.datasciencewizards.ai/
2 https://www.datasciencewizards.ai/insuraince/
3 https://www.datasciencewizards.ai/unifyai/
