Funding Alert

Data Science Wizards Secures $1.4M, Unveils AI Solution for Insurance Industry

• ByStartupStory     |    October 15, 2024

Data Science Wizards (DSW), an AI innovation company, has raised $1.4 million in seed funding, bringing its total valuation to $16.4 million. This round builds on an earlier $450,000 pre-seed investment and will be used to enhance the company’s AI platform, UnifyAI, and expand its team.

As part of its growth strategy, DSW has launched insurAInce, a next-generation AI solution designed for the insurance industry. Built on UnifyAI, the platform offers pre-learned models and tools to improve risk management, claims processing, fraud detection, and customer engagement. The platform is already in use by major insurance players such as Canara HSBC Life Insurance and Manipal Cigna.

“UnifyAI is a game-changer for enterprises looking to fast-track AI adoption,” said Sandeep Khuperkar, CEO and Founder of DSW. “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, with HIPAA certification expected by October 2024, ensuring robust security and regulatory standards.

Ritesh Rathod, Chief Strategy and Data Officer at Canara HSBC Life Insurance, praised UnifyAI’s impact: “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 maintain efficiency in our operations.”

DSW plans to expand UnifyAI’s reach into other sectors like banking, telecom, retail, and manufacturing in the near future.

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