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Paralleldots Announces Funding Of $2M

ParallelDots, Inc. is an artificial intelligence company developing novel algorithms and high impact products for real world problems. ParallelDots growing team of 35 includes 20 data scientists and engineers. ParallelDots was incubated at TLabs, India's leading technology venture accelerator.

ParallelDots, Inc., an artificial intelligence company developing novel algorithms and high impact solutions for real world problems, announced it has raised additional funding of $1.4 Million, bringing its total funding to $2 Million.

"We have raised $1.4 Million in additional funding from Multipoint Capital to enable us to pursue our vision and opportunities" said Angam Parashar, CEO of ParallelDots, Inc. "This follows Multipoint's earlier investment of $600K in early 2016 and brings our total funding to $2 Million. The funds will be used to add to our technology team, support our expanding global footprint, and general operational expenses."

"We are pleased to extend our investment in ParallelDots, Inc." said Gayatri Sondhi, Managing Director of Multipoint Capital, LLC. "The company fits our interest in making selective early stage venture investments in significant emerging technologies. We have been impressed by ParallelDots technology, team, operational capability, and results orientation in the last eighteen months. We look forward to continuing to work with the Company."


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