Chennai: Singapore-based HaiVE.Tech, an on-premiseAI provider has raised $1 million in pre-seed funding. Mohan K, Founder and CEO of IppoPay – a payment gateway company, led this round. This funding marks a significant milestone for the startup as it plans to further expand and drive growth in the AI industry.
The pre-seed funding will enable HaiVE.Tech to scale up its operations by expanding the engineering and marketing teams. With an increased workforce, the startup launched in 2023 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.
“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,” said Deepika Loganathan, Co-Founder and CEO of HaiVE.Tech.
“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,” added Loganathan,
“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 startup said it has already amassed a waitlist of clients across multiple continents, demonstrating the global demand for its services. It plans to expand its reach to e-commerce companies in various geographies.
The AI startup has its R&D Team in Tamil Nadu, India. It offers on-premise business-specific tuned AI solutions for fintech clients in Australia and India.