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BharatGPT Maker CoRover Raises $4 Mn To Bolster Its GenAI Ops

Inc42 · 9m ago

BharatGPT Maker CoRover Raises $4 Mn To Bolster Its GenAI Ops

CoRover, the creator of BharatGPT, has raised $4 million in a Series A funding round led by Venture Catalysts. The funds will be used to enhance their conversational AI chatbots and expand their team of AI experts. CoRover has been profitable for the past three years and aims to strengthen its technology and go-to-market strategy.

Related News

Google likely to inject another $4 Mn in AI startup Corover

Inc42 · 1y ago

Google likely to inject another $4 Mn in AI startup Corover

Google is reportedly planning to invest another $4 million in Indian artificial intelligence startup Corover. The tech giant had already invested $500,000 in Corover earlier this year and acts as a strategic partner, providing credit for access to cloud computing. Corover offers a large language model called BharatGPT, supporting more than a dozen Indian languages. The fresh investment will be used for business scaling. Corover is also backed by CanBank Venture Capital Fund, Lead Angels, Cognify, Karekeba Ventures, and IIIT-Delhi.

Venture Catalysts leads $4 Mn Series A round in CoRover

Entrackr

Entrackr · 9m ago

Venture Catalysts leads $4 Mn Series A round in CoRover

Conversational AI startup CoRover has raised $4 million in its Series A round led by Venture Catalysts. CanBank Venture Capital Fund (CVCFL), IIM Calcutta (Innovation Park), IIIT Delhi (iHub Anubhuti IIITD Foundation), Cogniphy LLC, Karekeba Ventures, Lead Angels and others have also participated. Earlier in July 2021, the Bengaluru-based startup had raised an undisclosed amount from Canbank Venture Capital Fund Ltd (CVCFL) from its fund VI. The proceeds will be used to further develop its technology, expand its team of AI experts, and ramp up its go-to-market strategy. It also plans to enhance its enterprise (B2G and B2B), B2B2C, and B2C offerings, while also exploring new revenue streams through subscription-based models, ad-based revenue, and transaction-based fees. Founded by Ankush Sabharwal, Kunal Bhakhri, and Manav Gandotra, CoRover offers a managed Chatbot as a Service (CaaS) with self-onboarding support, an AI-based VideoBot platform to help organizations cut down costs, accelerate revenue, and improve customer experience and operational efficiency. CoRover offers its AI bots services across channels like website, app, WhatsApp, IVR, SMS, Microsoft Teams, and other social media and IM channels, in different formats ranging from text, voice, and video, and even supports around 12 Indian/vernacular and over 100 foreign languages. Some of its innovations include BharatGPT (LLM), CoroAssist (a secure Gen AI based copilot for enterprises), eSevak (Conversational Citizen Grievances Management), AskDISHA (at Indian Railways & IRCTC), Ask PAi (at NPCI), AskMitra (at LIC), Chetna (at DMRC), and SEVA (at SEBI).

Startups take to LLMs to bring GenAI smarts to Indian languages

Economic Times

Economic Times · 1y ago

Startups take to LLMs to bring GenAI smarts to Indian languages

Indian startups are working on developing large language models (LLMs) to enhance generative AI in Indian languages. Gurgaon-based Soket Labs plans to release its multilingual LLM 'Pragna' next year, initially with a 7 billion parameter model trained on India's 23 scheduled languages and English, followed by a 30 billion parameter model. Conversational AI platform Corover AI is also set to launch its LLM project 'BharatGPT', which supports 14 Indian languages. However, building LLMs is a capital-intensive task and will face competition from global players like OpenAI and Google.

Ask me anything: Inside the race to build desi GPTs

Livemint

Livemint · 1y ago

Ask me anything: Inside the race to build desi GPTs

Indian companies and startups are developing language models (LLMs) specifically designed for the Indian market. These LLMs, such as Ask Disha, AI Police, and BharatGPT, are trained to understand and generate content in multiple Indian languages and dialects. CoRover, IIT Bombay, Tech Mahindra, and other organizations are tackling the challenge of training AI models on languages with limited digitized data. While the development of India-specific LLMs is beneficial for businesses and citizens, high computing costs and the scarcity of graphics processing units (GPUs) pose additional challenges.

CoRover, Pepsales, Tuco bag early-stage funding

VCCircle

VCCircle · 9m ago

CoRover, Pepsales, Tuco bag early-stage funding

Conversational AI startup CoRover has secured $4 million in a Series A funding round led by Venture Catalysts. CoRover helps businesses create personalized conversational experiences through various platforms. Pepsales, an AI-powered SaaS platform for sales teams, raised $1.1 million in pre-seed funding led by Chiratae Ventures. Tuco Intelligent, a kids' personal care brand, raised $2 million in seed funding led by Fireside Ventures and Whiteboard Capital. These investments will enable CoRover, Pepsales, and Tuco to further develop their technologies and expand their operations.

Neysa Bags $30 Mn To Fuel Its GenAI Adoption

Inc42 · 8m ago

Neysa Bags $30 Mn To Fuel Its GenAI Adoption

Neysa, a startup, is set to utilize its recent funding to bolster its AI infrastructure, research and development efforts, and prepare for the launch of its GenAI acceleration cloud service. The company is focused on collaborating with various partners in the global system integration, cloud services, and AI software sectors. Notably, Neysa raised $20 million in seed funding around six months ago, with contributions from investors such as Matrix Partners India, Nexus Venture Partners, and NTTVC.

NPCI, IRCTC, and CoRover launch conversational voice payment system for UPI

Economic Times

Economic Times · 10m ago

NPCI, IRCTC, and CoRover launch conversational voice payment system for UPI

The National Payments Corporation of India (NPCI), Indian Railway Catering and Tourism Corporation (IRCTC), and CoRover have introduced conversational voice payments for Unified Payments Interface (UPI). This new feature allows customers to complete transactions using voice commands or by entering their UPI ID or mobile number. It eliminates language barriers, making transactions more accessible and efficient. The technology integrates NPCI's payment gateway APIs with CoRover's voice-enabled generative AI model, BharatGPT. The system has been integrated into AskDISHA, the AI virtual assistant for IRCTC and Indian Railways. Additional features and enhancements are expected in the future.

GenAI: What Accenture got right, but Indian IT didn't

Livemint

Livemint · 1y ago

GenAI: What Accenture got right, but Indian IT didn't

Accenture secured projects worth $450 million in generative artificial intelligence (GenAI) in the three months ended November, a 50% increase from the previous six months. GenAI includes technologies driving chatbots and creating new forms of content. Analysts believe that if Accenture continues to grow at the same rate, its GenAI business could reach $4 billion in the current financial year. This marks a contrast to Indian IT firms, such as Tata Consultancy Services and Infosys, which struggle to define an AI roadmap. Accenture sees GenAI as a critical part of its clients' reinvention.

InCred Group acquires Dubai-based Arrow Capital to expand Middle East ops

VCCircle

VCCircle · 4m ago

InCred Group acquires Dubai-based Arrow Capital to expand Middle East ops

InCred Group has acquired Arrow Capital, a Dubai-based financial services firm, to bolster its presence in the Middle East and Africa. Founded in 2016, Arrow Capital offers wealth management, investment advisory, corporate finance, and asset management services. The acquisition enhances InCred's global capabilities in wealth management, investment banking, and asset management, managing over $2 billion in assets across Dubai, Singapore, and London, while accelerating its growth across multiple business lines.

Computer vision SAAS startup Assert AI raises $4 Mn

Entrackr

Entrackr · 1y ago

Computer vision SAAS startup Assert AI raises $4 Mn

Assert AI, a computer vision SAAS company, has raised Rs 30 crore ($4 million) in a funding round led by prominent investors including Ramesh Hariharan (ex-CTO and co-founder of LatentView), Prashant Purker (former MD & CEO of ICICI Venture), Arya.ag (integrated grain commerce platform), and select individuals. The company plans to utilise the funds to bolster its presence in essential markets, enhance research and development efforts, and continue pioneering new advancements in computer vision technology, Assert AI said in a press release. Assert AI has operations in India, the US and the Middle East. Assert AI empowers computers with a pair of eyes that never sleep and a program to process the visual inputs and identify and process things simulating a human vision, sans human error. It helps businesses and organizations automate processes, improve customer experiences, and gain valuable insights into their operations. The company’s has three flagship products – Pratham, Alpha and Falcon. Pratham is a no-code platform for computer vision while Alpha offers clients multiple options to consume and integrate data into their production systems. Its third product Falcon revolutionises warehouse inventory management with real-time tracking and optimisation capabilities. Led by Job Philip, the company claims to have delivered more than 50 applications to large corporates, SMEs and government enterprises.

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