Conversational AI Startup GenieTalk Bags Angel Investment of $750k At $10 Mn Valuation
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Indore-based conversational AI-startup GenieTalk has received its first round of angel investment of USD 750,000 from Shankeshwar Technologies LLP. The deal values the startup at USD 10 million.
The company stated that it will deploy the fresh funds for developing phase one of its SaaS-based platform that helps businesses build tailored and personalized AI-powered virtual assistants, referred to as chatbots and voice bots.
Founded in 2016 by Santosh Kataria, Ankit Kimtee and Vivek Jain, GenieTalk through its SaaS platform develops independent and intuitive AI entities.
The company has developed its own IATA certified travel application OGeni with inbuilt voice-activated virtual travel assistant (Virtual Travel Buddy) Genie. The virtual travel buddy is intended as a travel concierge service that can search domestic and international flights, book, reschedule, cancel and web check-in on behalf of the customer. Currently, OGenie app has over 100 thousand downloads and sells exclusive membership with Airtel Payment Bank, HDFC Times card, JioSaavn , Freecharge and Phonepe, among others.
“We are doing what Google and Facebook are doing with billions of dollars and unlimited resources, in minimal resources, remote location and with few but immensely talented AI brains in the country,” said Kimtee.
The Indore-based startup’s founders believes that the pandemic has made businesses rethink their strategies on automation and digitalization, giving GenieTalk an edge as they have been working on AI platforms for three years and are all set to help other businesses exponentially grow with conversational AI.
“We have developed an intuitive algorithm that is easy to deploy and help businesses stay connected, support decision making through data science with the help of conversation AI. Conversational AI refers to the automation of communication with the help of AI & its deployment through messaging apps, virtual voice assistants, chatbots, etc,” said Jain.