Conversational artificial intelligence (AI) platform ORAI has raised Rs 6.5 crore in a Pre-series A Round led by Inflection Point Ventures, the company said in a statement on Thursday.
The fresh capital will be utilised in the expansion of the company’s sales and marketing team, to target larger markets, in the development of products and enhancements, and for research and development.
Founded in 2020 by Sujit Das Biswas and Swapnil Jain, ORAI offers automation powered by AI with advanced features in a single bot that does all the work related to customer support, customer outreach, customer engagement, marketing, sales support, and post-sales services, the statement said.
The platform enables clients to gain higher revenues and increased returns on investment using a humanised virtual assistant, the statement said.
Currently, it has over 100 customers, including Group Landmark, Kataria Group, and Emcure, among others.
“Artificial intelligence driven chatbot has witnessed an upsurge in demand as it helps businesses to grow and function holistically. Similarly, ORAI has evolved exponentially as a robust AI conversational platform catering to 14 sectors including healthcare, real estate, education, automobile among others," said Vinay Bansal, Founder and CEO, Inflection Point Ventures.
Inflection Point Ventures is an angel investing platform that supports new-age entrepreneurs by offering them monetary and experiential capital, and connecting them with a diverse group of investors.
IPV has completed 50 investments by deploying over Rs 160 crore in 2021. Going forward, it plans to stick to 50-60 investments without increasing the deployed capital as in the previous years, Founder and CEO Vinay Bansal had said in an interaction with VCCircle.
Recently, the platform backed SaaS (software-as-a-service) startup unremot, social commerce startup Stage3, and digital mortgage platform LoanKuber.