[Funding Alert] AI-based chatbot Niki.ai raises Rs 11.6 Cr convertible debt from Unilazer, RSP India Fund, others
Bengaluru-based artificial intelligence chatbot Niki.ai has been raising a convertible debt funding since February this year. The startup, which already secured around Rs 11.6 crore so far, had received Rs 7.8 crore in February and Rs 3.8 crore between March-May.
According to RoC filings accessed by YourStory, the funding came from investors such as Unilazer Alternative Ventures LLP, RSP India Fund LLC, Tarun Nayyar, Vistra ITCL as a trustee of AL trust, Asian E-commerce Alliance, Hansjoachim Koehler of HJK Capital, and Ramakant Sharma, Co-founder and COO of Livspace, among others.
Founded in May 2015 by IIT Kharagpur graduates Sachin Jaiswal, Keshav Prawasi, Shishir Modi, and Nitin Babel, Niki.ai provides a simple and easy to use chat interface to shop for numerous products and services like movie and bus ticket booking, hotel and cab booking, utility bill payments, mobile recharges, local deals and laundry service, to name a few.
From left to right: Shishir Modi, Keshav Prawasi, Nitin Babel and Sachin Jaiswal
For businesses, it provides a plug and play technology in the form of Niki SDK that can be easily integrated everywhere including operating systems, on messaging platforms like Facebook Messenger, and on the brand’s applications (Android, iOS and web). Niki’s SDK partners include HDFC Bank, Federal Bank, ICICI Bank, Karbonn Smartphones, Intex, Oxigen Wallet, and Earlysalary to name a few.
The startup has also partnered with Cleartrip and OYO to design a bot for hotel bookings.
Niki.ai, which is backed by Ratan Tata, Unilazer Ventures, and SAP.iO among others, envisions to provide one shop for everything commerce. It is available on iOS, Android, Facebook, and Web platform, and has empowered over three million Indians to transact online.
The AI-powered bot had recently collaborated with Google Pay (formerly Tez) to tap into Tier II and Tier II market.
Owned and operated by Techbins Solutions Pvt. Ltd, Niki has over 60 partners on board. The startup registered a gross merchandise value of Rs 200 crore in 2018 on an annualised basis.
The company last raised $2 million (about Rs 13 crore) in Series A funding in 2017.