Get All Access for $5/mo

BiteSpeed Raises $1.9 Million Seed Funding From Sequoia India's Surge The round saw participation from First Cheque, Whiteboard Capital and angels including CRED founder Kunal Shah and Teachable founder Ankur Nagpal

By S Shanthi

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Unsplash

SaaS platform BiteSpeed has announced that they have raised $1.9 Mn in seed funding led by Sequoia India's Surge, with participation from First Cheque, Whiteboard Capital and Angels including CRED founder Kunal Shah and Teachable founder Ankur Nagpal. BiteSpeed provides e-commerce brands with the tools to help them embrace conversational commerce as the future of selling online.

BiteSpeed facilitates retargeting and retention of customers through WhatsApp and Facebook Messenger, which have open and conversion rates that are ten times higher when compared to other online alternatives. BiteSpeed provides the tools for any e-commerce brand to be able to sell and engage with their customers on these chat apps. This, the startup claims, helps brands drive an estimated 10 per cent of revenue through chat as a channel, reduce customer acquisition costs and increase lifetime value.

"The past decade of e-commerce brands were built on acquiring customers through Facebook or Google Ads, and retaining them through email marketing. However, with chat apps like WhatsApp and Instagram taking centre stage in recent times, our bet is that the future of commerce is conversational. At BiteSpeed, we're building the conversational commerce stack for e-commerce brands to engage and sell to their customers on chat. Since our launch in October 2019, we're grateful to now be working with over 1,500 brands in more than 50 countries around the globe. With the funds raised, we look forward to hiring across our tech, marketing and product teams as well as expanding our presence in the United States, Europe and Latin America," said Vinayak Aggarwal, founder, BiteSpeed.

BiteSpeed, founded in June 2019 by Vinayak Aggarwal in Gurgaon, is part of Surge's sixth cohort of 20 companies.

S Shanthi

Former Senior Assistant Editor

Shanthi specializes in writing sector-specific trends, interviews and startup profiles. She has worked as a feature writer for over a decade in several print and digital media companies. 

 

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

Science & Technology

Why Businesses Are Relying on Automation to Survive the Labor Crisis

Robots are revolutionizing industries by addressing labor shortages and enhancing efficiency, while businesses navigate challenges like workforce adaptation and high implementation costs.

Green Entrepreneur®

How Global Business Leaders Can Build a Sustainable Supply Chain

Businesses can build sustainable supply chains by leveraging technology to reduce environmental impact, optimize resources and track emissions while balancing operational efficiency and sustainability goals.

Employee Experience & Recruiting

There's a Growing Demand For This New Type of Professional — Here's Why Your Startup Needs Them, Too.

As startups evolve, a new breed of talent — the "boulder climber" — is emerging: adaptable professionals who balance strategic vision with hands-on execution. Learn why these versatile hires are redefining success in lean, agile teams.