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Customer service AI startup Decagon raises $131 million

Economic Times

Economic Times · 2m ago

Customer service AI startup Decagon raises $131 million

Decagon, an AI-powered customer service startup, raised $131 million in a funding round, valuing the company at $1.5 billion. Led by Accel and Andreessen Horowitz, and including other investors, the funding aims to expand Decagon's team and enterprise sales. Decagon provides text-based and voice AI support solutions, helping clients like Hertz and Duolingo. Notably, Chime reported a 60% reduction in contact center costs and improvement in customer satisfaction using Decagon's solutions.

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Related News

Google-backed AI startup Anthropic raises $100M from SK Telecom

IndianStartupNews

IndianStartupNews · 2y ago

Google-backed AI startup Anthropic raises $100M from SK Telecom

Anthropic, a Google-backed AI startup competing with Microsoft's OpenAI, has secured $100 million in funding led by SK Telecom Venture Capital. The investment is coupled with a commercial partnership to develop a large language model tailored for telcos. Anthropic plans to leverage SKT's domain expertise in telecommunications to fine-tune the model for various applications like customer service, marketing, sales, and consumer interactions across multiple languages.

AI chatbot startup LimeChat launches ecommerce chatbot with Microsoft

Economic Times

Economic Times · 1y ago

AI chatbot startup LimeChat launches ecommerce chatbot with Microsoft

Bengaluru-based AI chatbot startup LimeChat has collaborated with Microsoft to launch an advanced chatbot for ecommerce customer support. The bot boasts high accuracy with an error rate of under 0.1% and leverages Microsoft Azure OpenAI Service. LimeChat's technology aims to offer enhanced, efficient, secure, and personalized customer service experiences while continually refining engagement through dynamic learning. The startup has received funding of $5 million from eight institutional investors and has worked with over 300 brands including Mamaearth and HUL. Early adopters have reported tangible improvements and increased automation rates.

SaaS startup SuperOps raises $25 million from March Capital, Addition, Z47

Economic Times

Economic Times · 7m ago

SaaS startup SuperOps raises $25 million from March Capital, Addition, Z47

SuperOps, an IT management SaaS provider, secured $25 million in Series C funding, led by March Capital, to expand AI R&D, and its enterprise offerings, and enhance global reach. The total funding now stands at $54.4 million. Founded in 2020, SuperOps offers unified IT service platforms and aims to enter the broader IT market. With a tripled customer base across 104 countries, it also launched AI guide Monica, enhancing operational efficiency significantly.

Meta in talks to acquire voice cloning startup Play AI | TechCrunch

TechCrunch · 2m ago

Meta in talks to acquire voice cloning startup Play AI | TechCrunch

Meta is reportedly in talks to acquire voice cloning startup Play AI to enhance its AI capabilities and consumer-facing features. The acquisition aims to integrate voice cloning technology into Meta's platforms, potentially broadening its creative suite with audio features. Play AI specializes in voice cloning for AI-powered use cases like customer service and has raised $23.5 million from investors including 500 Startups and Race Capital. Neither Meta nor Play AI have commented on the acquisition discussions.

SaaS-focused agentic AI platform Pulse raises $1.4 million from Endiya Partners, others

Economic Times

Economic Times · 9m ago

SaaS-focused agentic AI platform Pulse raises $1.4 million from Endiya Partners, others

Software-as-a-service (SaaS) AI platform, Pulse, has secured $1.4 million in seed funding from investors including Endiya Partners. The funds will be used to strengthen the team and develop the platform's large language models (LLMs) and agentic AI capabilities. Pulse aims to bridge the gap between customer feedback and product development in the SaaS industry. The company plans to establish a presence in both India and the US and is currently conducting pilots with three companies. Funding for AI startups in India has declined, with $8.2 million raised in Q2, a 91% drop from the previous quarter.

IndiGo, Air India leverage AI-based tools to improve customer care service

Livemint

Livemint · 1y ago

IndiGo, Air India leverage AI-based tools to improve customer care service

Indian airlines IndiGo and Air India are leveraging AI-based tools to improve customer care operations and resolve more customer queries at the virtual assistant level. IndiGo's chatbot 6Eskai, powered by Microsoft and OpenAI, has reduced the workload of customer service agents by 75%. Meanwhile, Air India's generative AI virtual agent 'AI.g' has handled over two million customer queries, resulting in a 93% containment ratio. Both airlines are focused on enhancing customer experience through AI technology and are exploring its potential in various areas.

Fintech startup Jiraaf raises $8.7 million in funding led by Accel, Harmony Partners

Economic Times

Economic Times · 1y ago

Fintech startup Jiraaf raises $8.7 million in funding led by Accel, Harmony Partners

Indian fintech startup Jiraaf has raised $8.7 million in Series B funding, led by existing investor Accel and Harmony Partners. The company plans to use the funds for team expansion, improving customer service, and attracting more customers. Jiraaf offers a platform for retail investors to buy corporate debt issuances, generating average yields of around 12.5%. It aims to secure a license as an online bond platform provider from the market regulator, SEBI, and has already deployed around $322 million of capital through its platform.

SaaS startup Kapture CX raises $4 Mn to automate customer support operations

Inc42 · 1y ago

SaaS startup Kapture CX raises $4 Mn to automate customer support operations

Bengaluru-based B2B SaaS startup Kapture CX has closed its Series A funding round at $4 million, led by Indian private equity fund India Alternatives. Kapture CX offers AI-enabled customer relationship management (CRM) software, allowing companies to engage with customers across various channels. The funding will be used to expand globally and enhance product capabilities, with a focus on AI technology for improved customer experiences. Kapture CX has already expanded operations to the US, UAE, Indonesia, and Saudi Arabia and has over 1,000 customers from 19 countries.

AI-focussed startup Neuron7.ai snags $44 mn in Series B round

VCCircle

VCCircle · 10m ago

AI-focussed startup Neuron7.ai snags $44 mn in Series B round

Neuron7.ai, an AI-powered customer and field service platform, has raised $44 million in a Series B funding round led by Smith Point Capital. This brings the total capital raised by the company to over $63 million. Neuron7.ai helps enterprises make accurate service decisions at scale in complex service environments. The funding will be used to accelerate product innovation, go-to-market growth initiatives, and enable the delivery of service industry-specific AI solutions. The company has seen a 300% increase in annual recurring revenue in the past year and has gained enterprise customers in various industries.

OpenAI chair's AI startup Sierra gets $4.5 billion valuation in latest funding round

Economic Times

Economic Times · 10m ago

OpenAI chair's AI startup Sierra gets $4.5 billion valuation in latest funding round

Former Salesforce co-CEO Bret Taylor's AI startup, Sierra, has secured $175 million in funding, valuing the company at $4.5 billion. Sierra focuses on AI-powered customer service chatbots and has already generated over $20 million in annualized revenue. The funding round was led by Greenoaks Capital, with participation from Thrive Capital and Iconiq. Sierra differentiates itself by mitigating issues like generating false information, offering reliable interactions with customers for brands. This funding highlights the growing interest in AI companies, with investors willing to pay high multiples for established founders and revenue-generating applications.

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