Boston and Mumbai-based applied AI (artificial intelligence) and big data services company Quantiphi has raised $20 million in a Series A investment round from Multiples Alternate Asset Management. The deal marks the Renuka Ramnath-led private equity firm’s first bet in a frontier technology startup and a departure from its usual preference for later stage investments. The six-year old startup will use the capital raised to building vertical expertise, strengthen research and development, and scale its global team to deepen its presence in the North American and European markets, it said in a statement.