Niki.ai, a Bengaluru based ecommerce company, operates artificial intelligence based personal assistance, has got a series A funding of $2 million from its existing investor Unilazer Ventures and SAP.io which is a SanFrancisco based venture firm.
Some other investors
This funding round has seen participation by some other Indian investors as well such as Arihant Patni who is the managing director at Hive Technology, Haresh chawla who is the partner at True North and some German and US investors.
Fund will be used for strenthning of function
CEO at Niki.ai, Sachin Jaiswal said that, “The injection of the new capital will be used in further strengthening our machine learning capabilities, building voice and multilingual functionalities, and expanding our distribution network”.
Company’s partners and categories it supports
The company is backed by Ratan Tata and it supports 20+ categories such as daily and travel utilities, entertainment and it is also associated with BookMyShow, OYO, Uber, Ola, Redbus and JustRechargeIt.
First investment of SAP.io in India
Through this investment, SAP.io which is an early stage software startup fund of German Software Company has started investing in India.
Progress made by the company
Ronnie Screwvala who is the managing partner of Unilazer Ventures said that, “In less than two years we have made progress in multiple spheres and struck diversified relationships with a majority of corporate India. In the last year, I did three follow-up rounds with Niki given its track record and the right entrepreneur founders at the helm”.
Company releases Chatbot
Niki.ai has come up with its Chatbot software development kit (SDK) which helps brands to build conversational commerce of it website by implementing simple integration.
SDK is live across multiple sectors
SDK is already in use across many banks, wallets and equipment manufacturers which include Index, HDFC BankBSE -0.11%, Zopo Mobile and Oxigen Wallet. The company is also set for over 40 SDK partnerships implementation soon.
The organization intends to prepare its engine to decipher Indian dialects and it will start with Hindi.