Kognitos, a company that is working on AI [artificial intelligence] for business automation, has raised $20 million in a Series A round led by Khosla Ventures.
Existing investors also participated in the funding round.
To date, Kognitos reports $30 million in money raised. This funding round was at a valuation of $3 billion – or 3X its seed round from earlier this year.
Vinod Khosla, founder of Khosla Ventures, commented on the company:
“Every enterprise needs to embrace AI, and automation in human language will be key to widespread business usage. In Kognitos, we are backing a founder we have worked with before who is taking on a bold vision of empowering a billion people to program in natural language where every single business application can be written in English.”
The rapid rise of AI and ChatGPT has caused a blitz to incorporate AI in just about every industry. Kognitos is said to make it easier for developers to translate the everyday operations of an employee into automated processes.
Kognitos’ approach to automation uses a “deterministic English interpreter” to remove the “risk of hallucination and biases” while providing all of the power of Generative AI to business users. English is now “code” – claims the company.
Current customers include: PepsiCo, Wipro, Century Supply Chain Solutions, and Norco Industries.
The capital infusion is expected to be used to enhance the platform’s ability to understand and execute business processes, and integrations with other business applications to improve the platform’s interoperability.
Kognitos Jas also announced the availability of Exception Center, an “exception-handling interface “with the platform aimed at business users.