Conversational AI platform Orai has announced it has raised Rs 6.5 crore in a pre-Series A round led by Inflection Point Ventures, angel investment platform. The funds raised will be utilised in expansion in sales and marketing, to capture larger markets, product development and enhancements, and towards R&D, it said in a press statement.
Swapnil Jain, Co-Founder and CEO, ORAI, says, “As IPV continues to show trust in our business growth, with the 2nd round led by the Platform, we are all set to expand our operations nationally and internationally. With WhatsApp Commerce becoming the biggest demand in the industry, ORAI has received multiple appreciations from customers for its high tech, high performing platform.”
Vinay Bansal, Founder & CEO, Inflection Point Ventures said, “AI-driven chatbot has witnessed an upsurge in demand as it helps business to grow and function holistically. Similarly, Orai has evolved exponentially as a robust AI conversational platform. This platform ensures end-to-end solutions to the customers and clients thus enabling a smoother customer interface, streamline operations, quicker lead generation and also maximise ROI on digital marketing spends. We at IPV look forward to supporting Orai’s vision to grow beyond boundaries and be the leaders in AI conversational space.”
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 percent during the forecast period. ORAI aims to be the leader in Conversational AI Space with constant innovations helping businesses connect better with customers.
