iMerit is described in the articles as operating in the communications & IT services sector and associated with AI-related activity that creates skilled employment. British International Investment’s write-up emphasizes the company’s role in generating skilled jobs, particularly for women, in regions where they are most needed. The investment documentation indicates iMerit delivers impact in Bhutan and India within the South Asia region. The company is domiciled in the USA. In November 2021 BII committed $12.8m to iMerit as an equity investment. BII also records the investment as fully qualified under the 2X Gender Finance criteria. The project is listed as active under project number D4288 and the entry was last updated in June 2024. iMerit operates a proprietary AI and machine-learning platform that powers advanced algorithms in machine learning, computer vision, natural language understanding, e-commerce, augmented reality and data analytics. The company supplies labeled and enriched data for applications including cancer cell research, crop-yield optimization and training driverless cars. It serves multiple markets such as automotive, healthcare, e-commerce, finance, media and entertainment, and government. Led by CEO and founder Radha R. Basu with DD Ganguly as President of iMerit USA, the company currently employs about 3,000 people across the US, India and Bhutan. iMerit plans to expand its advanced workforce to 10,000 global employees by 2023. The firm intends to use the newly raised funds to continue innovation on its proprietary AI platform and scale operations.

Total raised

$33M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2021