Asato Secures $7.5M Investment to Support Development of AI Copilot Platform
SAN FRANCISCO, Dec. 6, 2023 — Asato.ai is excited to announce the closing of its oversubscribed $7.5 million seed financing round, co-led by Intel Capital and Lip-Bu Tan, with participation from Shah Capital Partners, and several angel investors including Amarjit Gill, entrepreneur and investor at Nepenthe Capital, Ash Bhardwaj, entrepreneur and investor, Charlie Giancarlo, CEO and chairman of Pure Storage, and Sanjay Mehrotra, president and CEO of Micron Technologies, Inc. Backed by this investment, Asato is poised to bring to market the industry’s first AI-powered enterprise CIO Copilot.
Managing the intricate web of IT, cyber and talent assets in large enterprises has become increasingly complex. As digital transformation accelerates, the need for comprehensive solutions that offer real-time visibility, control, and decision orchestration has never been greater. Asato is addressing this challenge by developing a cutting-edge enterprise Copilot platform that harnesses the power of AI and knowledge graph technologies.
“We founded Asato with a clear vision to empower enterprise CIOs with unprecedented visibility and the strength of AI to provide actionable insights, ultimately transforming how CIOs manage the business of IT,” said Sundari Mitra, CEO and co-founder of Asato. “This seed funding not only validates our vision but also provides the resources needed to accelerate the development of our Copilot platform.”
Asato is led by an accomplished team of seasoned entrepreneurs with a proven track record of leading successful ventures. Led by CEO and co-founder Sundari Mitra, a three-time CEO and technology executive, the founding team brings extensive leadership experience in delivering transformative technologies in small and large companies. Notably, at NetSpeed Systems, Sundari and Anush Mohandass (co-founder, COO) leveraged knowledge graph technologies to develop virtual twins of silicon chips, which forms the core of Asato’s enterprise Copilot platform.
“We are witnessing a transformative era where AI is reshaping every facet of enterprise operations. Asato’s approach uses AI to go beyond spending optimization by bringing new insights on the impact of IT decisions on operations and the business itself,” said Anthony Lin, Managing Partner and Head of Intel Capital. “We’ve had the pleasure of working with Asato cofounders Sundari and Anush over the years; their track record of innovation instills confidence in Asato’s vision and promise.”
“Having closely worked with the founding team over the past 10 years, I have witnessed their remarkable dedication and innovation in action. My continued support for this exceptional team and their vision for Asato is not just an investment; it’s a reflection of my confidence in their ability to reshape the enterprise IT management landscape”, said Lip-Bu Tan, Chairman of Walden International and Intel Board Member.
Asato is an enterprise copilot platform powered by AI designed for CIOs. The platform discovers, connects, and contextualizes IT and Talent assets to equip CIOs with insights to make informed decisions about resource allocation, identify alternative solutions, and optimize investments. The mission of Asato is to empower CIOs with unprecedented visibility and control to optimize IT spend and drive decisive actions. For more information, please visit: www.asato.ai.