On Friday, GenieTalks (1), a conversational AI firm, announced that it had secured its first angel investment round of 750K USD from Shankeshwar Technologies LLP. Notably, the venture is valued at 10 million USD. The startup will utilize the latest infusion to develop its platform, based on SaaS. The Indore-based firm helps businesses in building personalized virtual assistance powered by AI.
Vivek Jain, Co-founder of GenieTalk, stated on the latest funding round that their delivery model is a SaaS platform. Via the platform, consumers can utilize the chat form and embed a small script to their service. Users can purchase it as a plan or opt for pay as you go services.
GenieTalk To Develop Independent and Intuitive AI Entities
Santosh Kataria, Vivek Jan, and Ankit Kimtee, the three tech enthusiasts, founded GenieTalk. The trio has envisioned a holistic deep-tech startup that would develop intuitive and independent AI entities. The founders have also successfully created their in-house Travel application, OGenie. The IATA certified app is available on App Store and Play Store. It has an inbuilt voice-activated virtual travel assistant, also called as Virtual Travel Buddy, Genie. It provides a travel concierge service.
At present, the GenieTalks app, OGenie, has over 100,000 downloads. It can search, book, reschedule, cancel, web check-in, domestic and international flights. The app is also selling exclusive membership with Airtel Payments Bank, JioSaavn, HDFC Times Card, Freecharge, and more.
Ankit Kimtee, GenieTalk, stated that the startup is doing what Google and Facebook are doing with unlimited resources and billions of dollars. However, they have minimal resources, remote locations, but they have few immensely talented AI brains. The tech is in the nascent stage; hence it will take years to reach its goals.
He added that pandemic had given a super boost to their growth. The startup is receiving the demand they had expected in the upcoming five years. The startup is currently aiming to place India as an AI pioneer across the world.