Grunt Work No-More? Wokelo.AI Streamlines Due Diligence, Cut Costs, Automates 40% Of Tasks

When you're a young professional navigating the world of investment banking or private equity, the early days are typically filled with tedious tasks.

“Climbing the ranks, we found ourselves immersed in research, modeling, and the tedious formatting of slides,” shared Wokelo AI’s co-founder and CTO, Saswat Nanda. “A tool enabling us to engage in higher-level problem-solving and critical thinking would have been a game-changer.”

WokeIo, established in 2022 with $1.5 million in pre-seed funding, is that tool. The generative artificial intelligence (AI) platform operates on the back of OpenAI’s GPT and Large Language Model Meta AI or LLaMA. It empowers professionals to achieve human-like synthesis more cost-effectively and rapidly.

Untapped Capital, SeaChange Fund, Pack Ventures, Array Ventures, and Upsparks Capital are among the startup's backers.

“With Siddhant Masson, Wokelo’s co-founder and CEO, stumbling upon GPT, we experimented with it on consulting projects, automating up to 40% of the laborious tasks. Wokelo is an evolution, empowering analysts and associates to reduce workload from weeks to days.”

An investment analyst, associate or consultant are considered "power users," Nanda says.

Wokelo grants private equity, investment banking, management consulting, and venture capital professionals precious time to concentrate on problem-solving and strategy. Use cases include valuation and portfolio monitoring, equity and hedge fund research, competitive intelligence, as well as investment memos and thesis making.

“A lot of references and sources support the information,” Nanda explained, adding that Wokelo can help analysts create lengthy reports and memos on public or private companies. “Data can be external, or you can connect to a Google Drive and premium sources like FactSet.”

Nanda said Wokelo is available to an exclusive set of users, including Deloitte, Guggenheim, Alexis Ohanian’s Seven Seven Six, and Tata Group, a large conglomerate owning businesses like Air India. Since Wokelo is still new and potentially complex for some, “onboarding is controlled” to the target group of “marquee banks and private equity firms.”

“Over the past two years, we have built several in-house Gen-AI solutions for automating our investment process. As a builder, I also devoted considerable effort to building an AI-powered diligence tool,” Untapped Capital’s Yohei Nakajima, an investor in the company, said. “The ability to instantly synthesize insights from diverse sources helps us make faster and smarter investment decisions.”

Wokelo enhanced its due diligence tenfold. The firm’s team of about 10 is eyeing upwards of 30 in the next few months of development.

“We’ve got an excellent attitude and willingness to try new things,” Nanda said. “The professional services segment in the U.S. is almost 20% of GDP. Our target is to embed into large enterprises and the mid-market. We want a lot of activities to be done using Wokelo.”