Data Science Wizards raises $1.4 million in a seed round, launches next-gen AI solution for insurance

AI startup Data Science Wizards (DSW) today announced it has raised $1.4 million in a seed funding round led by an angel investor.

The startup, which previously raised $450,000, is now valued at $16.4 million. 

Enhancing the deeptech AI platform

DSW said it would use the raised capital to develop further and enhance its deeptech AI platform, UnifyAI, and strengthen the team.

As part of this, DSW is launching ‘insurAInce,’ a solution tailored specifically for the insurance sector, leveraging UnifyAI to deliver advanced, AI-driven transformation for the industry.

What is UnifyAI?

As DSW states, UnifyAI is the driving force behind insurAInce, a solution tailored specifically for the insurance sector. insurAInce leverages UnifyAI’s powerful capabilities, offering pre-learned models and specialized tools to address the unique challenges of the insurance industry—enhancing risk management, operational efficiency, and innovation.

The latest new funding will be used to strengthen both UnifyAI and the insurAInce solution further, ensuring scalability and adaptability for enterprise-level AI adoption, the release notes.

In the coming months, DSW will also introduce domain-specific solutions built on UnifyAI for banking, telecom, retail, and manufacturing, transforming how industries harness AI to move from experimentation to full-scale production.

“UnifyAI is a game-changer for enterprises looking to fast-track AI adoption,” said Sandeep Khuperkar, CEO and Founder of Data Science Wizards.

“Our platform takes AI/ML and GenAI use cases from concept to production with confidence, predictability, and scale. Businesses are experiencing up to 60% reductions in development costs and 60-80% faster production timelines, transforming months of effort into just 3-4 weeks,” Khuperkar added.

Enabling rapid implementation of AI and GenAI uses cases

Designed specifically for insurers, the insurAInce solution enables rapid implementation of AI and GenAI use cases within weeks across key areas such as claims processing, risk assessment, fraud detection, and customer engagement.

The startup said that its seamless integration with existing legacy systems ensures insurers can adopt AI without disrupting ongoing operations while built-in compliance and regulatory features meet the industry’s stringent standards.