Ideaspring Capital, The Hive invest in AI startup Peritus

Artificial intelligence startup Peritus.ai has raised $2 million (Rs 12 crore) in funding from early-stage venture capital firm Ideaspring Capital and early-stage fund The Hive, a company statement said. The firm will use the money to strengthen its development team in India, it said in the statement. Based in California, US, Peritus.ai Inc. was founded by Santhosh Srinivasan and Kamesh Raghavendra in 2017 with support from The Hive, which incubates startups and focuses on applications of AI in the enterprise segment. "We are looking forward to help from Ideaspring for support in building and guiding our development team in India," said Srinivasan, co-founder and vice president for engineering at Peritus.ai. The company automates professional services, support delivery and incident resolution for data centres. It also proactively predicts support needs and incident features from patterns mined across product designs, past incidents, configurations and log data, the statement said.