Argoid, an artificial intelligence-based streaming personalisation platform, has raised $1.7 million (around Rs 12.3 crore) in a seed funding round, it said on Wednesday.
The round in the Silicon Valley and Benglauru-based startup has been led by YourNest Venture Capital, an early-stage investor that focuses on deep-technology and enterprise segments.
Interestingly, this investment by YourNest comes a week after VCCircle reported that the firm was set to launch its third fund, which could be double the size of its last vehicle. Other portfolio companies for the investor include UptimeAI, KoineArth, and Xpedize.
Other investors that participated in this seed round include Turbostart and TeamLaunchpad.vc, which is a venture capital affiliate of Rock Mountain Capital and Catch NYC.
Argoid, operated by Argoid Analytics, Inc., was set up in 2019 by Soundarajan Velu, Gokul Muralidharan, and Chackaravarthy E, who have worked at homegrown e-commerce platform Flipkart.
The company says its platform helps provide personalised offerings for segments including streaming media, user-generated content, ecommerce, edtech, and media publishing firms.
It is the latest AI-based startup to raise funding. Others that raised capital in recent months include sales intelligence firm Enparadigm Performance Solutions, virtual voice agent developer Agara, and automotive technology company drivebuddyAI.