Nanonets

Nanonets is an AI platform aimed at automating business processes by extracting valuable insights from documents. It focuses on transforming unstructured data from various sources into actionable insights and automating complex manual workflows through a no-code platform. 

Nanonets supports seamless file importation, utilizes advanced AI for accurate data extraction without predefined templates, enhances extracted data for actionable insights, and offers flexible export options. It emphasizes on making businesses more efficient by reducing manual workload and accelerating decision-making processes.

Nanonets Features

• No-Code AI Model Building: Empower users with no coding skills to effortlessly train AI models, democratizing artificial intelligence and fostering accessibility in model development.

• Automated Data Extraction: Seamlessly extract valuable information from unstructured sources, reducing manual efforts and ensuring accuracy through automated data extraction processes.

• Custom Workflow Automation: Tailor business processes to specific needs by automating workflows, enhancing efficiency, and aligning automation with the unique requirements of diverse business operations.

• Integration Capabilities: Ensure smooth collaboration with existing systems by offering seamless integration capabilities, allowing for the effortless incorporation of AI-driven solutions into established workflows.

• Real-Time Analytics: Deliver actionable insights promptly with real-time analytics, enabling businesses to make informed decisions based on the most up-to-date information and trends.

• Scalability: Designed to handle increasing data volumes and complexity, the platform ensures scalability to accommodate growing business needs without compromising performance or efficiency.

Nanonets Pricing

Nanonets offers both free and paid plans to its users.

• Free Plan
• Pro Plan: Pay $499/month 
• Enterprise Plan: Customized

Nanonets Usages

• Automating Document-Based Workflows: Streamline business processes by automating document-based workflows, reducing manual intervention and ensuring seamless, error-free execution of tasks for enhanced productivity.

• Extracting and Processing Data: Efficiently extracting and processing data from diverse document formats, empowering organizations to leverage valuable insights, make informed decisions, and enhance overall data-driven capabilities.

• Enhancing Business Intelligence: Elevate business intelligence through robust data analytics, enabling organizations to uncover patterns, trends, and critical information within documents, fostering strategic decision-making and innovation.

• Streamlining Data Entry and Management: Simplify data entry and management processes, optimizing information handling and ensuring a streamlined, error-resistant flow of data across various business functions.

• Improving Accuracy and Efficiency: Increase the accuracy and efficiency of data-driven tasks by leveraging automation, minimizing errors in data processing, and enhancing overall task execution for improved organizational performance.

Nanonets Launch & Funding

Sarthak Jain and Prathamesh Juvatkar launched Nanonets in the year 2017.

Nanonets secured a funding of $11.5 million across three rounds, with their most recent funding achieved on February 16, 2022, through a Series A round.

Nanonets Limitations

• Accuracy Levels: Depending on the complexity and quality of the input data, the accuracy of data extraction and processing vary.

• Customization Limits: While offering no-code solutions, there are limitations in how deeply a workflow or model can be customized without advanced technical intervention.

• Integration Challenges: Some users face challenges integrating the platform with existing legacy systems or specific third-party applications.

• Learning Curve: Despite being no code, there is a learning curve in understanding how to best use the platform for specific business needs.

• Cost: For small businesses or startups, the cost is a limiting factor depending on the pricing model and required features.