Rezo.ai Raises Seed Funding Led By Modulor Capital The startup plans to use the funds for product development and entering new markets
By Prabhjeet Bhatla •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Conversational AI startup Rezo.ai on Wednesday informed to have raised an undisclosed amount in Seed funding led by Modulor Capital, Dexter Angel Network, Veda, and prominent angels including Bhavesh Manglani (co-founder, Delhivery); Devesh Sachdev (founder, Fusion Microfinance).
The Noida-based startup plans to use the funds for product development and entering new markets.
Rezo.ai is an AI-powered contact center transforming businesses with its turnkey services for quick scalability and better economics.
"Conversational AI tech enables algorithms to mimic human conversations. The initial wave of conversational AI had rule-based bots, and used NLP to understand consumer intent from past conversations. We believe that the next wave is increasingly going to be voice-enabled. Rezo.ai is working at the forefront of this technology and enabling enterprises through customer service automation. The company has built solutions across channels – chat, email, social, and voice. Rezo.ai has built a truly vernacular solution supporting 11 languages in voice and several languages in text. Thus, enterprises can now stay closer to their customers, provide their customers great service experience and also improve the productivity of their customer service teams. Rashi and Manish have built an experienced team working on a vision to disrupt the customer service automation industry. We are excited about the potential of their solutions and very happy to partner with them early in their journey," said Tushar Agrawal, partner, Dexter Angels.
Founded in 2017 by an IITian couple Manish and Rashi Gupta, Rezo.ai is powered by machine learning, natural language processing and predictive intelligence, and other proprietary algorithms. With Rezo.ai, businesses can look at strengthening their contact center capabilities and scaling without worries about customer experience (CX).
"What we saw in the team was the ability to build and scale a world-class conversational AI product that could significantly drive down the cost of customer service function," stated Bhavish Sood, general partner, Modulor Capital, and incoming board member, while commenting on the investment.
Rezo.ai automates customer conversations across various touchpoints – voice, WhatsApp, email, chats, and social media; analyze calls and interaction; coach and train agents and enhance the customer experience within built RPA. Rezo.ai core works on proprietary algorithms built using machine learning (ML) and natural language processing (NLP).
With a strong presence in India, and with expansion plans for the US and the Middle East, Rezo.ai is moving ahead with high vigor to empower businesses across the globe with its AI-powered contact center.
"We deeply value the support and trust of our investors, customers, and partners. We are confident that our capabilities of disrupting the contact centres ecosystem for enterprises across verticals, along with their continued support will be instrumental in shaping up the entire industry and encourage further innovation. We are certain to expand the business and empower many more enterprises with never before offered AI-powered solutions for transforming customer and employee experiences. The investment will also be used to rapidly expand into new markets and grow our teams in the US and the Middle East," expressed Dr. Rashi Gupta, chief data scientist and co-founder, Rezo.ai.
Backed by a team of world-class Ph.D.s, data scientists, engineers, and futuristic technology, the company is delivering business success to hundreds of companies across industries such as logistics, BFSI, healthcare, automobile, education, and travel, the company shared.
"Conversational AI helps organizations automate, refine and optimize tasks in real-time, which were otherwise heavily dependent on human intervention. This helps organizations reduce costs and improve user experience by removing the need for customers to navigate through complex problems themselves. We also see Conversational AI being able to transform other functions within organizations such as Sales, Marketing, Training, and Onboarding, helping large enterprises tackle problems associated with scale effectively. Rezo's offering was the best in the market making them an obvious bet to take in this space," added Vasant Rao, Veda.
Rezo.ai's clientele includes marquee industry names such as Delhivery, USHA, ShipRocket, Dr. Lal Path Labs, Care Health Insurance, Reliance Nippon Life Insurance, Tata AIG to name a few.
