Enterprise conversational AI platform, ORAI has raised Rs 3.6 cr in a pre-Series A round from Inflection Point Ventures, an angel investment network, marking ORAI's thirteenth deal in 2021. The funds raised would be used for international expansion and collaborations, sales and marketing along with product development and enhancement.
With over 50 clients from small and mid-size businesses (SMB) and enterprise segment, ORAI has also been expanding its clientele globally. Some of the marquee names ORAI is working with include GMR Delhi, Group Landmark, BMW Munich Motors and Sayaji Hotel.
Vinay Bansal, founder & CEO, Inflection Point Ventures, said, "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 provides a conversational AI platform incorporating text, voice, AR/VR and humanoids on one single platform for enterprises and SMBs. The tools also provide a predictive intelligence dashboard with a score to each lead with its probability to close. The platform seamlessly integrates with more than 20 digital channels and a variety of CRMs.
ORAI is expanding in the Middle East, Europe, the US and Asia Pacific and is on its way to achieve its goal of becoming the leader in conversational AI space with constant innovations helping businesses connect better with customers.
"In this ever-evolving digital world where millennial are constantly adopting chat, voice, speed,efficiency, and conversation, businesses have to harness 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," said Sujit Das Biswas, co-founder and CTO, ORAI.
ORAI was founded in 2020 by two technopreneurs who had the experience of building and selling complex enterprise solutions for more than 15 years. The company aims to leverage their experience from both technology and digital end to offer enterprises and SMB’s conversational AI capabilities for enhanced performance, user engagement and experience.
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 of 21.9% during the forecast period.
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