Enterprise AI startup Asato.ai announced it has raised $7.5 million in seed funding to further develop its AI-powered copilot platform aimed at chief information officers (CIOs). The oversubscribed round was co-led by Intel Capital and Lip-Bu Tan, former CEO of Cadence Design Systems, with additional backing from Shah Capital Partners and high-profile angel investors.
Asato's copilot technology combines knowledge graphs and generative AI to give CIOs comprehensive real-time visibility into their organization's complex IT assets and operations. The goal is to equip CIOs with data-driven insights to optimize IT investments, identify potential infrastructure improvements, manage cyber risks, and align technology with business objectives.
"We founded Asato with a vision to bring unprecedented visibility and AI-powered recommendations to enterprise CIOs looking to transform how they manage the business of IT," said Asato CEO and co-founder Sundari Mitra.
Mitra brings over two decades of experience founding and leading technology companies, most recently NetSpeed Systems, which developed AI-based chip design tools. She is joined by an accomplished founding team including Anush Mohandass, Asato's COO and co-founder who also co-founded NetSpeed.
The infusion of seed funding will allow Asato to accelerate developing its copilot platform that captured investor interest thanks to the pedigree of its founding team and the immense challenges facing today's CIOs.
Intel Capital's Managing Partner and Head, Anthony Lin, praised Asato's innovative approach, highlighting the transformative impact of AI in reshaping enterprise operations. Lin's confidence in the Asato team's vision and track record underscores the potential of this investment.
While still in its early stages, Asato's brain trust of enterprise technology veterans and backing by leading investors, uniquely positions it to deliver a domain-specific AI tool to discover, connect, and contextualize IT and talent assets, providing CIOs with critical insights for informed decision-making.