Yuga Labs, a leading provider of artificial intelligence (AI) and machine learning (ML) solutions, has recently closed a $16 million Series A funding round in a TwelveFold auction. This round of funding was led by venture capital firm Sequoia India, with participation from existing investors including Lightspeed India and Nexus Venture Partners.
Yuga Labs was founded in 2018 by a team of AI and ML experts with the mission to create AI-driven solutions that can help businesses make better decisions and improve their operations. The company has developed a suite of AI-driven products that are designed to help businesses automate processes, improve customer service, and optimize operations.
The TwelveFold auction is a unique fundraising model that allows companies to raise capital from multiple investors simultaneously. This model enables companies to raise capital quickly and efficiently while also allowing investors to bid on the company’s shares at their own price.
The funds raised in this round will be used to expand Yuga Labs’ product portfolio and accelerate its growth. The company plans to use the funds to develop new products and services, expand its customer base, and hire new talent.
The TwelveFold auction model has become increasingly popular among startups in India, as it allows them to raise capital quickly and efficiently. This round of funding is a testament to the success of Yuga Labs’ AI-driven solutions and the potential of the TwelveFold auction model for startups in India.
Yuga Labs’ success in the TwelveFold auction is a promising sign for the future of AI-driven solutions in India. With the funds raised in this round, the company can continue to develop innovative products and services that can help businesses make better decisions and improve their operations.
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