Botworx.Ai is a conversational commerce platform raised seed funding of $3 Million from their investors Costanova Ventures alongside with SV Angel Investors.
Costanoa Ventures is an early-stage VC firm whose investments focus mostly on SaaS infrastructure and marketplaces.
The California-Based startup was founded in the year 2016 by Mahi De Silva, Manoj Malhotra, Arvind Gupta and Mark Fruehan. Botworx.Ai is an artificial intelligence-powered platform that helps brands engage with their clients and drive conversions for their business. The Indian Entrepreneurs also started an advertising firm AdMarvel in 2008. The firm was rebranded as Opera Mediaworks in 2013. Prior to founding AdMarvel, the team built the mobile messaging and content business at VeriSign.
Co-founder Arvind Gupta, is the CIO for the political party – Bharatiya Janata Party in India, created the social media platform to help in elections for current Prime Minister Narendra Modi.
Mr. Silva, CEO said: “Despite all of the technological innovation, marketing is still done one campaign at a time, where brands have very limited access to audience profile and engagement data. We’re building Botworx.ai to spend that paradigm to give brands greater power to acquire customers, engage them with content and monetize the engagement.”
The company’s team operated from Europe, Asia and Latin America. The platform provides full lifecycle management and analytics; they provided chatbots ( a computer program designed to simulate the conversations with human users, especially over the Internet) for Telangana Today, Newsmobile.in, American Idol, Citi and Lufthansa.and many other media companies.
Recently lots of startup’s which provides Chatbot services have risen funding:
- In December 2016, a Bangalore-Based AI startup Niki.Ai raised $3 Million from Haresh Chawla, a partner at India Value Fund Advisors (IVFA).
- In November 2016, B2B marketing automation firm – MarainalQ raised $ 2 Million seed funding from venture capital firm Exfinity Venture Partners.
- In June 2016, shopping app chatbot -Mezi raised $ 9 Million in series A funding from Saama Capital, American Express Ventures and existing investor Nexus Venture Partners.
The startup will use its fresh funds to build its platform and enable brands to acquire, engage and transact with consumers through popular messaging apps like Facebook Messenger, WeChat and iMessage.
AI and Machine learning startups investments have seen a huge surge in last couple of years with all the biggies including Google, Microsoft, Apple, Amazon are heavy investing in them. It is expected that by 2030 more than 60% of jobs will be handled by Artificial Intelligence.
Read Artificial Intelligence and Indian startups