Episode Description

In this episode, Akarsh Shrivastava (Principal, Elevation Capital) speaks to Sarthak Jain (Founder, Nanonets) on his journey of building a world-class AI-driven data automation platform from India.

Nanonets is a No Code AI-driven automation platform giving businesses smarter ways to run document-based operations such as capturing data, storing and routing documents associated with spend management, procurement processes, loyalty reward programs, and more. Nanonets provides businesses with both user-interface components and APIs that can be connected to business data sources and can be used to update ERP, SAP, and accounting software (among others) to streamline document workflow processes. Their solution has truly democratized document automation by making it accessible to SMB and mid-market customers. What excited us about Nanonets was how the product was cutting-edge but still easy to use and how Sarthak and Prathamesh had figured out a scalable PMF with very little capital.

Listen to Sarthak as he talks about the early days of Nanonets, his approach to building his A-team, and more.

Episode Summary:

00:14 - Introduction to Nanonets

02:13 - Sarthak’s entrepreneurial journey before Nanonets, and how he decided to solve the problem of document automation.

08:06 - Identifying the correct ICP (ideal customer profile) and building a strong GTM engine.

10:42 - How Team Nanonets identified the correct user persona

12:06 - Learnings from the journey beyond USD 1mn ARR.

18:05 - How to say ‘no’ in the early days (to customer feature requests)

22:54 - Who are Nanonets’ toughest customers and how did they go about winning them

27:25 - How Sarthak built the A-Team and fostered a positive organisational culture

31:18 - Implication of rapid innovation in AI/ML for Nanonets.

34:05 - Journey ahead for Nanonets