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Venture Catalysts leads $4 Mn Series A round in CoRover

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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).