ORAI raises ₹3.6 crore in Pre-Series A funding from IPV

Our Bureau Bengaluru | Updated on April 22, 2021

To use the funds for international expansion and collaborations.

Enterprise conversational AI platform ORAI has raised ₹3.6 crore in a Pre-Series A from Inflection Point Ventures, one of India’s fastest growing angel investment networks, making ORAI its 13th deal in 2021.

The funds raised would be used for international expansion and collaborations, sales and marketing, along with product development and enhancements.

ORAI’s conversational AI platform incorporates text, voice, AR/VR and humanoids in one single platform for Enterprises and SMBs. It also acts as an enterprise solution for various use cases like increasing qualified leads and accelerating revenue, along with improving the customer support teams’ efficiency and reducing incoming calls/emails load by up to 90 per cent. The tools also provide a predictive intelligence dashboard with a score to each lead with its probability to close. The platform seamlessly integrates with more than 20 digital channels and a variety of CRMs.

Swapnil Jain, co-founder and CEO, ORAI, said, “In this ever-evolving digital world, where millennials are constantly adopting chat, voice, speed, efficiency in their conversations, businesses have to harness technology to keep up the performance. Hence, a customer-centric approach and adopting new-age channels are the key driving factors in the "Voice First and Messaging First" revolution. Overall the ORAI platform is a much-advanced platform when compared to its peers.”

The start-up is expanding in ME, Europe, the USA and the Asia Pacific. With over 50 clients from SMB (Small and Mid-size Businesses) and the Enterprise segment, ORAI has been expanding its clientele globally. Some of the marquee names ORAI is working with are GMR Delhi, Group Landmark, BMW Munich Motors and Sayaji Hotel.

The global conversational AI market size is expected to grow from $4.8 billion in 2020 to $13.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.9 per cent during the forecast period.

Published on April 21, 2021

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