[Funding alert] Sales augmentation startup DaveAI raises investment from Mumbai Angels Network, others

AI-based sales augmentation platform Dave.AI has raised an undisclosed amount in its pre-Series round of funding led by Mumbai Angels Network. The round also saw particpation from GHV Accelerator, IIIT Technology Venture Partners, and Mohan Kumar, CEO of Crestere Technologies.

Founded by Dr Ananthakrishnan Gopal, Ashok Balasundaram, and Sriram P H, DaveAI is a sales augmentation platform with a vision to democratise AI for enterprises. DaveAI can be used by brands to create sales experiences on web, VR, and AR.

The patent-pending platform uses Empathetic AI with a blend of technologies like speech and NLP, facial detection, visualisation, and a multi-dimensional affinity engine.

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Nandini Mansinkha, Co-promoter and CEO Mumbai Angels Network, said, "Innovation using digital human avatars for digital conversations is the best way to merge the physical and digital world. We believe this innovation will progress in the future by transforming enterprises. AR/VR technology has a vast market that offers a potential new way of interaction between customers and the world around us."

Speaking on the investment, Sriram, Co-founder and CEO, DaveAI said,

"We are pleased to be backed by investors who understand technology and believe that world-class deep technology products can be built in India. DaveAI is an enterprise-grade AI platform for creating the next generation of sales experiences. This investment will help us enter new markets and sustain this growth at a global scale."

According to a statement by the company, DaveAI recorded 230 percent revenue growth last quarter amidst a global slowdown with clients like Maruti Suzuki, Pidilite Industries, Landmark Group and some leading banks.

Talking about their engagement with DaveAI, Shashank Srivastava, Executive Director (Marketing and Sales), Maruti Suzuki, said, "We at Maruti Suzuki are constantly working towards bringing innovative solutions to provide a superior experience to our customers. Our corporate accelerator, MAIL (Mobility and Automobile Innovation Lab), provides an excellent platform to startups to collaborate and work with Maruti Suzuki to co-create solutions that will be quickly implemented in our business and ecosystem."

"We are collaborating with DaveAI, winner of our MAIL program (cohort 2), to implement multiple AI-based solutions to enrich the customer experience on our digital platforms. We are confident that with this partnership, we can set new benchmarks to enhance business performance and improve customer interface," Shashank added.

(Edited by Teja Lele Desai)