Athina AI and SarvaGram have raised new funding to grow in AI innovation and rural financial services.
Athina AI, a Y Combinator-backed SaaS startup, has raised $3 million in a seed funding round, bringing its total funding to $4.1 million. Investors include Alex Ratner (Snorkel AI CEO), Denis Yarats (Perplexity CTO), Kleiner Perkins Scout Fund, and Y Combinator.
Athina AI helps teams:
The platform supports AI workflows and integrates with tools and data sources. It helps clients create reliable AI systems. Major customers include Perplexity, Meesho, PhysicsWallah, and Doximity. Most of its users are based in the US, while some are Indian enterprises.
The new funding will improve the product’s speed, reliability, and scalability. Athina AI also plans to grow its presence in the US market. The platform already handles millions of evaluations each week.
SarvaGram, a rural-focused lending platform, has raised ₹565 crore ($67 million) in a Series D round led by Peak XV Partners. Other investors include Elevar Equity, Elevation Capital, Temasek, and TVS Capital. This brings SarvaGram’s total funding to ₹950 crore ($113 million).
Founded in 2019 by Utpal Isser and Sameer Mishra, SarvaGram offers:
The platform has served 100,000+ customers in five states through 150 branches. SarvaGram also works with financial partners, including IDFC First Bank, AU Small Finance Bank, and Northern Arc. Its total loans under management are ₹1,200 crore.
The funds will help SarvaGram expand to new regions in India. In FY24, its revenue grew by 2.3x to ₹169.8 crore, while losses dropped by 27%. Its competitor, Jai Kisan, raised $50 million in 2022 and recently acquired an NBFC license.