[Funding alert] Conversational AI platform Mihup raises $1.5M in ongoing Series A round
Mihup Communications Pvt Ltd, a Kolkata-based conversational AI platform, has raised $1.5 million in an ongoing Series A round. The funding is led by Accel Partners, Ideaspring Capital, venture capitalists Rajesh Jain (Founder of Netcore), and Jayant Kadambi (Founder and CEO YuMe Networks).
Last year, the technology startup had secured $1.7 million in the similar round.
In a media release, the firm said the fresh funds will be used to expand the Mihup team, to build new product capabilities, and to enter new markets.
“The funding will allow us to push Mihup to greater heights and invest in areas that will be a key to our long-term vision and success, and we are thrilled to have Accel Partners continuing as our investors and welcome Ideaspring Capital as our investor partner. We will soon be launching a new product in the automobile space,” said Tapan Barman, CEO and Co-founder, Mihup.
Mihup Co-founders (L-R) Biplab Chakraborty, Sandipan Mandal, Tapan Barman, and Sandipan Chattopadhyay.
Prior to this round, the startup had secured Seed funding and Pre-Series A funding from Accel Partners and Ideaspring Capital. Accel has previously invested in companies like Flipkart, Freshwork, Myntra, Musigma, CureFit, Spotify, Facebook, and Dropbox, among others.
Founded in 2016 by Tapan Barman, Sandipan Chattopadhyay, and Biplab Chakraborty, Mihup claims that its interaction analytics solution provides 100 percent analysis of a call center’s customer interactions to derive actionable insights to improve sales, collection and customer services. This is an enterprise ready platform for both cloud or on-prem deployments.
The brand is using AI to empower humans with the ability to interact with the digital world around them. It is built on top of a proprietary platform (speech to text engine, Natural language processor, Dialogue Manager, Text to speech) that leads on accuracy in mixed languages. Mihup has processed over 100 million customer interactions and is trusted by Fortune 500 companies.
Subrata Mitra, Partner at Accel, stated that Mihup's voice platform can be a game changer in addressing the next several 100 million.
“Voice as a medium is seeing an increasing demand in not only consumer applications but in enterprise applications as well. Advancement in voice recognition and translation technology and the advent of language agnostic internet will drive this trend,” added Naganand Doraswamy, Managing Director and Founder, Ideaspring Capital.