Two IUPUI students have launched a tech startup aimed at helping businesses leverage the data they collect. Vemity Chief Executive Officer Brandon Boynton says the artificial intelligence-as-a-service platform will help companies discover new revenue streams and make them more competitive.
Boynton, a sophomore majoring in applied computer science at IUPUI, co-founded Vemity along with Chief Technology Officer Zachary Balda, a junior at IUPUI. The two are working with Purdue University student Zachary Walters, who serves as the company’s head developer.
Boynton says Vemity will allow companies to use predictive intelligence to better understand what their users will do next or use the AI with the products to add new features and abilities. The company has already begun its sales phase and is reaching out to CEOs, CTOs, and software developers at small- and medium-sized businesses.
IUPUI says the students are also speaking with investors in the Indianapolis and Chicago areas. Boynton says Vemity will launch its seed round once its revenue hits a certain point. He says the goal is to raise enough money to hire three to five employees and scale beyond Indianapolis.