MUMBAI – Business intelligence startup FireAI has raised ₹4 crore ($480,000) in a seed funding round led by Inflection Point Ventures to develop AI-driven analytics tools and expand into new markets, the company said on Thursday.
FireAI said the funds would be used to build products including a proprietary extract–transform–load (ETL) tool and features such as “Causal Chain” and “Text-to-SQL” capabilities that allow users to interact with data through natural language. Part of the capital will also go towards hiring engineers and expanding operations overseas.
Founded by Vipul Prakash, FireAI develops business intelligence software that aims to simplify access to enterprise data through conversational interfaces rather than conventional dashboards. The company said its system can integrate data from more than 700 sources and generate real-time insights for business users.
Focus on product development and global reach
The Mumbai-based company said it plans to use the funding to improve product scalability and user experience. It has also partnered with Alchemist LLP as a distribution partner for the Middle East and Africa, where FireAI operates as a certified original equipment manufacturer.
FireAI currently has a 30-member team and works with clients including the Government e-Marketplace (GeM). The company said its software can improve forecast accuracy by up to 30 per cent and enable real-time alerts for decision-making.
Founder and chief executive Prakash said FireAI was building India’s first diagnostic analytics platform designed from “a stakeholder-first perspective.” He said the company’s focus was to make business intelligence more accessible and interactive for decision-makers.
FireAI makes data more usable
Inflection Point Ventures chief executive and co-founderVinay Bansal said the firm backed FireAI because it addressed a gap in making data more usable for organisations. “AI has created large volumes of data, but the challenge remains in interpreting and acting on it,” Bansal said.
Inflection Point Ventures has invested over ₹800 crore across more than 250 startups. Its venture arm, Physis Capital, manages a $50 million fund focused on growth-stage companies.
Global demand for AI-powered data analytics is expected to rise from $74 billion in 2024 to $482 billion by 2033, according to market estimates. In India, the market is projected to grow from $2.6 billion to $27 billion during the same period, with an average annual increase of about 27 per cent.
FireAI said the expansion of AI across industries has increased the need for tools that make business data more interpretable and accessible to non-technical users.
