[Funding alert] Indore-based conversational AI startup GenieTalk raises $750,000

Conversational AI startup GenieTalk on Friday said it had received its first round of angel investment of $750,000 from Shankeshwar Technologies LLP at a valuation of $10 million.

The Indore-based startup will use the funding for developing its SaaS-based platform that helps businesses build tailored and personalised AI-powered virtual assistants, more often referred to as chatbots and voice bots.

“Our delivery model is a SaaS platform through which the customer can use the chatbot by embedding a small script into their services. This can be purchased as a plan or pay as you go services,” said Vivek Jain, Co-founder, GenieTalk.

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Founded by three tech enthusiasts Santosh Kataria, Ankit Kimtee, and Vivek Jain, GenieTalk was envisioned as a holistic deeptech startup that developed independent and intuitive AI entities.

The founders even developed their in-house and IATA Certified Travel application OGenie available on the Play Store and App Store, with an inbuilt voice-activated virtual travel assistant (Virtual Travel Buddy) Genie, which is intended as a travel concierge service.

Currently OGenie has over 100,000 downloads and can search domestic and international flights, book, reschedule, cancel, do web check-in etc.

The OGenie app is selling exclusive membership with Airtel Payments Bank, HDFC Times Card, JioSaavn , Freecharge, PhonePe etc. The Genie ELITE membership offers various benefits, including flight rescheduling, discounted cancellations, and complimentary seats.

“We are doing what Google and Facebook are doing with billions of dollars and unlimited resources, with minimal resources, remote location, and with few but immensely talented AI brains. AI tech is in the nascent stage, and it will take years to reach our goal. The pandemic has super-accelerated this growth; the demand we envisioned in the next five years is happening now,” added Ankit Kimtee, Co-founder, GenieTalk.

Currently serving in PoC (Proof of Concept Agreement) terms with some big names like Paytm, ICICI, Airtel, Aditya Birla, Prestige Group, DP Jewellers, and more, GenieTalk is aiming to place India on the map for global AI pioneers.