HaiVE.Tech, an innovative on-premises AI provider, has successfully raised USD 1 million in pre-seed funding. The funding round was led by Mohan K, Founder and CEO of IppoPay, a renowned figure in the financial technology sector. This capital injection marks a significant milestone for the company as it positions itself for further expansion and growth in the AI industry.
The pre-seed funding will enable HaiVE.Tech to scale up its operations by expanding its engineering and marketing teams. With an increased workforce, the company aims to cater to its existing client base and those on its waitlist. The primary focus of the expansion is to serve the burgeoning demand for AI services across various industries and markets.
Deepika Loganathan, Co-Founder & CEO from HaiVE.Tech said,“We are thrilled to have secured the pre-seed funding. This investment will fuel our mission to provide on-premises AI services, ensuring data privacy and intellectual property control for our clients. At HaiVE, we firmly believe that AI is a game-changer for businesses looking to scale up. Our AI solutions not only ensure complete data privacy and control but also allow our customers to seamlessly integrate their preferred tools. This flexibility, combined with our commitment to delivering exceptional AI capabilities, will drive our growth and establish HaiVE.Tech as the go-to provider for businesses seeking AI-powered solutions.”
"HaiVE is the game-changer for companies venturing into AI without risking their own competition. Just like a renowned food delivery startup that conquered the market by leveraging service scaling options, HaiVE empowers businesses by accumulating crucial data insights. By understanding the most popular food types in every neighborhood, they cleverly established cloud kitchens and expertly poached talent to offer high-volume products under their own brand. This strategic approach serves as a powerful lesson to any company relying on third-party hosted AI services. As an investor at HaiVE, I confidently endorse their solution for any company desiring AI integration without creating internal competition," said Mohan K, Founder, and CEO of IppoPay.
HaiVE.Tech has strategically chosen to target the FinTech sector in both India and Australia as the initial expansion markets. The company has already amassed a waitlist of clients across multiple continents, demonstrating the global demand for its services. Following its success in the FinTech industry, HaiVE.Tech plans to expand its reach to e-commerce companies in various geographies.
The investors' decision to back HaiVE.Tech was driven by the company's impressive track record and the increasing importance of AI and data ownership in the corporate landscape. Many multimillion-dollar companies, who are among HaiVE.Tech's early clients, recognized the critical role of AI in their infrastructure and sought funding to leverage this transformative technology. With the funding received, HaiVE.Tech is well-positioned to meet the growing demand for AI services across sectors and emerge as a leader in the market.