Samreen Ahmad · · 1 min readTiger Global-backed AI startup to pump $50m in 🇮🇳 division
Abacus, an end-to-end AI and machine learning cloud platform, will be investing US$50 million in its research and development arm in India in the next three years.
From left: Abacus co-founders Siddartha Naidu, Bindu Reddy, and Arvind Sundararajan / Photo credit: Abacus
Located in Mumbai, the company will initially hire 20 engineers and scientists for the division, which it plans to grow by 10x over the next three years. The unit will cater to the AI adoptions of both small and large firms, said Abacus in a statement.
Launched in 2019 by Siddartha Naidu, Bindu Reddy, and Arvind Sundararajan, Abacus’ platform can be used by data science teams that want to plug and play their own models with full customization. It also serves business owners who want to use the platform’s architecture search techniques to build their own machine and deep learning models.
Abacus has so far raised US$90 million in four rounds from investors like Tiger Global Management and Index Ventures. The company is aiming to raise more funds for its global expansion.
See also: These are the most active investors in India’s startups
Editing by Miguel Cordon and Lorenzo Kyle Subido
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