Artificial intelligence-backed customer data and marketing platform Contlo, on Monday said it has raised seed funding of $3.5 million (around Rs 28 crore) led by early-stage venture capital firm Kae Capital.
The round also saw participation from existing backers Better Capital and Titan Capital, with angel investors including Harshil Mathur and Shashank Kumar (Razorpay), Varun Alagh (Mamaearth) and Giridhar Malpani (Climber Capital), among others.
The Bengaluru-based startup, operated by Contlo Technologies Pvt. Ltd will use the fresh funds to boost its product stack, hiring talents and expanding global footprint.
Contlo, launched by Ishaan Bhola and Mukunda NS, enables e-commerce stores to boost their sales, drive customer loyalty and retention using omnichannel customer engagement. In January, VCCircle had reported that the startup had raised $800,000 in a pre-seed funding led by Better Capital.
“Not much innovation has happened in last decade. But with our AI-first approach, we are reimagining how digitally native brands of the future will conduct commerce,” Bhola said.
"We believe SaaS is getting rewritten due to three tailwinds of AI, verticalization and PLG. Contlo sits at the intersection of these trends and has built a powerful product,” said Gaurav Chaturvedi, partner, Kae Capital.
Kae Capital was founded in 2012 by Sasha Mirchandani, who is one of India’s earliest startup investors, and is also founder of the Mumbai Angels network of angel investors. The firm has invested in 79 startups, and claims a portfolio enterprise valuation of $8.52 billion. To date, the investor has made 14 exits.
Last month, it had announced the final close of its third fund with a corpus of Rs 767 crore, nearly double its $53 million second fund.
