Rachit Poddar, Co-founder of Marwari Catalysts Ventures & Executive Director at Rachit Group, and Rajesh Gupta, Director at Jaybharat Group, have made an undisclosed strategic investment in Sapio Analytics, a government advisory firm with its offices in Mumbai, Palo Alto and London.
The company is said to be currently valued at $20 million.
According to a statement released by the companies, the investment is made to prepare Sapio Analytics for its global expansion at a much higher valuation.
Sapio Analytics is an artificially intelligent shadow government support system, that provides policy making support to governments using new age technologies. The core departments the company focuses on are local administration, economic growth, law enforcement and intelligence, healthcare and heritage.
"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 1 million unorganized workers and businesses," says Hardik Somani, Founder and Director of Sapio Analytics.
Rachit Poddar is an active investor in the startup ecosystem with a mission to help 1000 startups in India over the next decade. With ownership in Sapio Analytics, he expects to reach the mission faster, with strategic support by the government advisory firm.
Rajesh Gupta is an industrialist and leads a large conglomerate based out Surat. His aim is to support sustainable businesses of the future which can create large impact on our nation.
"Sapio Analytics mission 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 billion. With support of government, academicians, institutions, bureaucrats and industries we aspire to create a large enterprise of nation building products," says Rachit Poddar.
"We are thrilled to partner with Sapio Analytics in their next phase of growth. Their team has demonstrated exceptional execution capabilities to develop innovative products for building our nation which can create a massive global impact. We are confident that Sapio will emerge as one of the India's leading technologically advanced large enterprise that aims at solving complex problems to contribute in India's trillion-dollar economy vision," says Rajesh Gupta.
The statement from Sapio indicates that it is directly connected with more than 1.2 million citizens of India, providing its services with support from governments in India. It is targeting government contracts based on its universally customizable product offerings, and is currently working with Government of India bodies, Government of Uttar Pradesh, Government of Telangana, Government of Delhi, and Government of Kerala, among others.
Internationally, it has begun its focus on South America, with a transformation aimed in Guyana, a nation that recently discovered oil amongst its natural resources and is slated for a hyper growth.
Founder and CEO Ashwin Srivastava recently published a book detailing the exploits of Sapio Analytics in the past one year, titled "The Artificially Intelligent Government". The book positions Sapio Analytics as the Palantir of developing countries. Palantir Technologies is a data analytics firm active in the United States, with current market capitalization of more than $50 billion.
Founding Chairman Prashant Nikam is an ex-civil services officer and has been Director of Police and Personnel at the Ministry of Home Affairs.
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