Enterprise Conversational AI platform, ORAI has raised INR 3.6 cr in a Pre-Series A from Inflection Point Ventures, India’s fastest growing angel investment network, marking ORAI as its 13th deal in 2021.
The funds raised would be used for international expansion and collaborations, sales and marketing along with product development and enhancements.
ORAI is YCC Future Stars’ 1st runner up last year, hosted by IIT Delhi Alumni Association. ORAI also won Technoviti 2021 Award for Innovative platform for Conversational AI to ORAI Robotics. With over 50 clients from SMB (Small and Mid-size Businesses) and Enterprise space, ORAI has also been expanding its clientele globally as well. Some big names ORAI is working with are GMR Delhi, Group Landmark, BMW Munich Motors and Sayaji Hotel.
Vinay Bansal, Founder & CEO, Inflection Point Ventures says, “For brands and enterprises, being a leader in one format is simply not going to work in today’s connected world that believes in an omnichannel approach. New-age brands are aiming to capture their customers at various touchpoints right from their own websites to even social media. Conversation AI and chatbot support is now a necessity. Many globally leading brands are already on this path. ORAI’s tech platform is robust and covers top public platforms like WhatsApp, Facebook Messenger and Google helping their customers build 1:1 relationship with their end-users. Not only this, they enable businesses to improve their response time to real-time, generate leads faster and save on marketing costs. The experience of the founders in AI and NLP and their vision to grow ORAI beyond India attracted us to invest in the company.”
ORAI is a strong unique enterprise conversational AI platform incorporating Text, Voice, AR/VR and Humanoids in one single platform for Enterprises and SMBs. It also acts as a strong enterprise solution for a variety of use cases like increasing qualified opportunities and accelerating business revenue, along with improving the customer support teams efficiency and reduced the incoming calls/emails load by up to 90%. The tools also provide a predictive intelligence dashboard with a score to each lead with its proximity to close. The platform seamlessly integrates with more than 20+ digital channels and with a variety of CRMs.
ORAI is expanding in ME, Europe, the USA and the Asia Pacific region, ORAI is on its way to achieving its goal of being the leader in the Conversational AI Space with constant innovations helping business connect better with customers.
Speaking on the development, Swapnil Jain, Co-Founder and CEO, ORAI, says, “It feels great to have received the overwhelming support of IPV, we are set for a global play in the time to come. We aim to equip both large enterprise and SMB’s with our advanced enterprise Conversational AI platform and help them in creating a phenomenal customer engagement and enhanced experience.”
Adding to this, Sujit Das Biswas, Co-Founder and CTO, ORAI says, “In this ever-evolving digital world where millennial are constantly adopting chat, Voice, Speed, Efficiency, and Conversation, businesses have to harness the technology adoption to keep up the performance. Hence, the customer-centric approach and adopting new-age channels are the key driving factors in the “Voice First and Messaging First” revolution and ORAI will play a very important role here.”
The global conversational AI market size is expected to grow from USD 4.8 billion in 2020 to USD 13.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.9% during the forecast period. For ORAI – Conversational AI is an emerging market and there are wildly different estimates about the market size.