AI-powered conversation intelligence platform Convin has raised $6.5 million in Series A funding. The round was led by India Quotient, with participation from new investor JSW Ventures and existing investors Kalaari Capital, Titan Capital Winners Fund, Sparrow Capital, and 9Unicorns.
Bharat Patidar, co-founder and COO, said, “We are looking to build our leadership team here in India. The primary focus is definitely to capture the Indian market and expand here. The second is, we are also looking to bring more product lines, and in terms of geography, we are looking to expand our footprints to the South Asian market, Southeast Asia, and that’s where we see a great fitment.”
The Indian fintech ecosystem is the third largest globally and continues to grow rapidly, with the tripling of unicorns/soonicorns and quadrupling of minicorns over the last four years. The ecosystem has also matured significantly, with 35 plus fintechs at a $500 million valuation compared to only 13 in 2020.
Read Here | SoftBank-backed OfBusiness plans $1 billion IPO amid strong revenue growth
A report by BCG and Z47, formerly Matrix Partners India, finds that the ecosystem is poised for exponential growth. Ritu Singh caught up with Nisha Bachani, Partner at BCG and Vikram Vaidyanathan, MD of Z47 — the authors of the report — for more.
Deeptech startup DeepMatrix has raised $1.6 million in a pre-Series A round co-led by YourNest and Arali Ventures. The round also saw participation from lead angels. The Bengaluru-based company raised over $600,000 in its last round in March 2022.
The proceeds will be allocated towards accelerating its growth, enhancing product offerings in mining and asset management, and expanding its presence in key markets, including the United States and Australia. Naresh Soni, CEO of DeepMatrix, outlines the strategy for deploying these funds.
IKEA isn’t limiting its plans for India to just furniture. The Swedish retail giant is expanding into sleep solutions, AI, and pet products to offer Indians a more holistic experience for life at home. By integrating AI into their processes, IKEA aims to make their products more personalised and consumer-friendly.
Zenia Baria speaks with the CEO and CSO of IKEA India, Susanne Pulverer, about these new ventures and their further expansion plans in the country.
For the entire show, watch the accompanying video.
Also Read | A Chennai space startup is projecting ₹100 crore rev in 2 years, wants ₹50 crore funding
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=66d73261a88e4400b3c6088ff5929d74&url=https%3A%2F%2Fwww.cnbctv18.com%2Fbusiness%2Fstartup%2Fconvin-raises-series-a-funding-to-expand-ai-conversation-intelligence-in-south-asia-19470322.htm&c=15784522164419455318&mkt=en-us
Author :
Publish date : 2024-09-03 04:25:00
Copyright for syndicated content belongs to the linked Source.