Essential AI Comes Out of Stealth With $57 Million in Funding

Essential AI, an artificial intelligence startup founded by two authors of a seminal research paper at Google is disclosing details for the first time Tuesday, saying it has raised $56.5 million in new funding.

The company will use AI for corporate functions such as data analysis and promises to automate monotonous tasks, work that Chief Executive Officer Ashish Vaswani says is “harder than it should be.” The startup is calling its technology the “Enterprise Brain.”

Ashish Vaswani, left, with Niki Parmar.

Source: Essential AI

March Capital led the financing round, which includes participation from chipmaker Advanced Micro Devices Inc., Franklin Venture Partners, Alphabet Inc.’s Google, Nvidia Corp. and Thrive Capital.

Essential was started ...