Rachit Poddar, Co-founder of Marwari Catalysts Ventures and Executive Director of Rachit Group, and Rajesh Gupta, Director of Jaybharat Group, have invested an undisclosed sum in Sapio Analytics, a government consulting firm with offices in Mumbai, Palo Alto, and London.
The money will be utilised for new research and development at Sapio, as well as expanded offers for poor countries, according to the business. The investment was made at the company’s fair market value of $20 million at the time of the transaction.
Sapio Analytics, based in Mumbai, is an artificially intelligent shadow government assistance system that uses new-age technologies to provide policymaking help to governments. It was founded by Hardik Somani, Ashwin Srivastava, Shripal Jain, and Viral Vora. Local administration, economic growth, law enforcement and intelligence, healthcare, and heritage are the company’s core departments.
“With support from Rachit Poddar and Rajesh Gupta, we hope to achieve our target of a $100 million valuation by the end of the financial year. Our value is in the amount of impact we are making on the citizens, and with initiatives such as Saksham and MSME Revival, we are currently impacting more than one million unorganised workers and businesses,” said Hardik Somani, Founder and Director of Sapio Analytics.
“Sapio Analytics mission is to impact, influence, and improve the lives of millions through leveraging technology, and government channels will prove to be a breakthrough in how the nation formulates policies across various sectors. We certainly believe our nation will be empowered with solutions designed by Sapio that will prepare us to not just become the largest economy, but also to give opportunities to our population of billions,” said Rachit Poddar.