Conversational AI platform ORAI has raised INR 6.5 crore in a Pre-Series A Round led by Inflection Point Ventures, one of India’s largest angel investment platforms. The funds raised will be utilised in expansion in sales & marketing, to capture larger markets, product development and enhancements, and towards R&D.
ORAI is addressing a significant problem, by offering 100% automation powered by AI with all the advanced features in a single bot that does all the work related to customer support, customer outreach, customer engagement, marketing, sales support, and post-sales services. The platform has also introduced WhatsApp commerce, where automating business conversations over WhatsApp with the power of AI.
Vinay Bansal, Founder & CEO, Inflection Point Ventures says, “AI driven chatbot has witnessed an upsurge in demand as it helps business to grow and function holistically. Similarly, ORAI has evolved exponentially as a robust AI conversational platform catering to 14 sectors including healthcare, real estate, education, automobile among others. This platform ensures end to end solutions to the customers and clients thus enabling a smoother customer interface, streamline operations, quicker lead generation and also maximise ROI on digital marketing spends. We at IPV look forward to supporting ORAI’s vision to grow beyond boundaries and be the leaders in AI conversational space.”
ORAI is a platform that offers customers end to end platform + Solution + Service. It is an all-in-one Conversational AI, customer acquisition platform enabling clients to gain higher revenues & increased ROI using Humanised virtual assistant enabling Realtime 3-way communication, and Automated lead qualification. It charges one time integration fee and a monthly subscription fee based on usage scale. ORAI currently has 100+ customers including Sayaji Hotel, GMR Delhi, Group Landmark, Kataria Group, Emcure etc.
Swapnil Jain, Co-Founder and CEO, ORAI, says, “As IPV continues to show trust in our business growth, with the 2nd round led by the Platform, we are all set to expand our operations nationally and internationally. With WhatsApp Commerce becoming the biggest demand in the industry, ORAI has received multiple appreciations from customers for its high tech, high performing platform.”
ORAI acts as a strong enterprise solution for a variety of use cases. The engagement ratio of the digital user has gone up by min 200% as the customers are reached on new-age channels like WhatsApp, Google Assistant and Alexa. The platform has helped businesses to Increase qualified leads and accelerate business revenue. Also, it provides 24×7 access to information, handles client queries more effectively and improves customer acquisition and retention.
ORAI’s Platform is also integrated with CRM (Salesforce) and ERP (SAP), hence any information customer, retailer, distributor is looking for is just a WhatsApp message away, like payment details, quotations, outstanding summary, order status etc. Now the customer, retailer or distributor needs to just initiate the chat, and all the responses are integrated and automated over WhatsApp chat from a business verified WhatsApp account. With the current solution, almost 30% of the load is reduced for their call centre teams.
The global conversational AI market size is expected to grow from USD 4.8 billion in 2020 to USD 13.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.9% during the forecast period. ORAI aims to be the leader in Conversational AI Space with constant innovations helping businesses connect better with customers.
Categories: Venture Capital