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§ Private Profile · San Francisco, CA, USA
Automatic Data Extraction
NanoNets has raised $39.0M across 2 funding rounds.
Key people at NanoNets.
NanoNets was founded in 2017 by Sarthak Jain (Founder/CEO) and Prathamesh Juvatkar (Founder).
NanoNets has raised $39.0M in total across 2 funding rounds.
Nanonets is an AI-driven solution that automates document processing and data extraction workflows. Leveraging advanced Optical Character Recognition (OCR) and deep learning models, Nanonets helps companies automate document-heavy business processes like accounts payable, order processing and insurance underwriting.
Nanonets processes unstructured documents such as invoices, receipts, purchase orders, contracts, claims, and forms and converts them into structured output.
Key people at NanoNets.
NanoNets was founded in 2017 by Sarthak Jain (Founder/CEO) and Prathamesh Juvatkar (Founder).
NanoNets has raised $39.0M in total across 2 funding rounds.
NanoNets's investors include Abhinav Chaturvedi, Elevation Capital, Y Combinator, Mukul Arora, Amar Goel, Ashish Gupta, Gautam Kumar, Khadim Batti, Krish Subramanian, Kushal Nahata, Nakul Aggarwal, Rajaraman Santhanam.
NanoNets has raised $39.0M across 2 funding rounds. Most recently, it raised $29.0M Series B in March 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Mar 12, 2024 | $29M Series B | Abhinav Chaturvedi, Accel | Elevation Capital, Y Combinator | Announced |
| Feb 16, 2022 | $10M Series A | Mukul Arora | Amar Goel, Ashish Gupta, Gautam Kumar, Khadim Batti, Krish Subramanian, Kushal Nahata, Nakul Aggarwal, Rajaraman Santhanam, Ritesh Arora, Varakumar Namburu, Vetri Vetrivelkumaran Vellore | Announced |
Nanonets is an AI-driven intelligent document processing company that automates data extraction and document workflow automation using advanced Optical Character Recognition (OCR) and deep learning models. Its platform converts unstructured documents—such as invoices, receipts, contracts, and claims—into structured, actionable data, significantly reducing manual effort by up to 90% and cutting costs by up to 50%. Serving a broad range of industries including finance, insurance, healthcare, manufacturing, and logistics, Nanonets supports enterprises from startups to Fortune 500 companies like Deloitte and EY. The company’s no-code platform enables businesses to automate complex manual workflows, improving operational efficiency and decision-making.
For an investment firm perspective, Nanonets embodies a mission to revolutionize business processes through AI-powered automation, focusing on sectors where document processing is critical. Its investment philosophy likely centers on scalable AI technologies that drive measurable ROI and operational transformation. By enabling automation at scale, Nanonets impacts the startup ecosystem by setting new standards for intelligent document processing and workflow automation, fostering innovation in data-driven decision-making.
Nanonets was founded with the vision to transform how businesses handle document-heavy processes by leveraging AI and machine learning. While specific founding year and founders’ details are not explicitly stated in the search results, the company is headquartered in San Francisco and has evolved to serve a global clientele, including many large enterprises. The idea emerged from the need to reduce the time-consuming, error-prone manual data entry tasks prevalent in industries like finance and insurance. Early traction came from successfully automating accounts payable, order processing, and insurance underwriting workflows, demonstrating significant improvements in accuracy and speed, which helped build trust with major clients.
Nanonets rides the wave of increasing demand for AI-driven automation in enterprise workflows, particularly in document-intensive industries. The timing is critical as businesses face growing pressure to digitize and streamline operations post-pandemic, reduce costs, and improve data accuracy. Market forces such as the explosion of unstructured data, the need for faster decision-making, and the shift toward no-code platforms favor Nanonets’ growth. By enabling automation at scale, Nanonets influences the broader ecosystem by pushing forward the adoption of AI in everyday business processes, encouraging innovation in data extraction, and setting benchmarks for intelligent document processing solutions.
Looking ahead, Nanonets is poised to expand its footprint by deepening AI capabilities, enhancing integration options, and broadening its industry reach. Trends such as increased AI adoption, demand for no-code automation, and digital transformation initiatives will shape its trajectory. As enterprises continue to seek efficiency and accuracy in data handling, Nanonets’ influence is likely to grow, potentially becoming a standard platform for intelligent document processing. Its commitment to privacy and compliance will also position it well in regulated industries. Overall, Nanonets is set to remain a key player driving the future of automated data extraction and workflow automation.
