AI firm Avaamo gets Rs 95 crore in Series-A funding

BENGALURU: Artificial intelligence startup Avaamo has raised $14.2 million (about Rs 95 crore) in a series-A round of funding led by Intel Capital. Ericsson Ventures, Mahindra Partners, Wipro Ventures and WI Harper also participated in the round.

The Los Altos, California and Bengaluru-based company, which specialises in conversational interfaces to solve specific enterprise problems, plans to use the funding to expand its sales and marketing. With this fundraising, the company has, so far, raised $23.5 million.

“We felt we should get our ecosystem to work with us,” said Avaamo CEO Ram Menon. “We are planning to optimise on Intel hardware… we work with many telcos in India, Asia and Europe, and Ericsson equipment is an important part of what we integrate into.”

“Wipro, a systems integrator, is a trusted advisor to a lot of companies across the world. This is hardware, software, systems integrator and corporate (Mahindra Partners) coming together,” he said. Avaamo’s conversational intelligent assistants are deployed in about 40 countries. Its platform enables enterprises to deploy omnichannel intelligent assistants in the areas of supply chain, human resources, sales support, claims processing and insurance advisory. These apps are not just customer-facing, but can also be built for employees and suppliers to automate various tasks.