DaveAI, an AI conversation experience cloud, has raised pre-Series A funding led by Inflection Point Ventures and SucSEED Indovation Fund. This growth investment round had a strategic mix of equity and debt.
The round also saw participation from Soonicorn Ventures, Yes Bank and Mohan Kumar, Founder of Crestere Technologies LLP.
The funds raised will be used to develop technology leadership, expand its partner ecosystem, and fast-track global market penetration.
“DaveAI will use this investment to build its proprietary domain-specific Small Language Models focused on industries like Automobile, aiming for a leadership position in AI software for the industry and scaling into new markets such as North America,” said Sriram PH, CEO & Co-Founder, DaveAI.
“To make a major impact in AI from India and the world, we have to invest in some fundamental technology and domain expertise. We are in line towards making this happen with this pre-series A investment round,” said Ananth G, CTO & Co-Founder, DaveAI.
Mitesh Shah, Co-Founder, Inflection Point Ventures, said, “Companies today face one similar problem on the customer service end, i.e. delivering a personalized and engaging customer interaction at a large scale. DaveAI is solving that using advanced AI-powered virtual avatars and conversational intelligence to transform customer engagement across industries to improve customer service experience. At IPV we believe and support them in their journey to redefine the AI-driven customer engagement market.”
“DaveAI is transforming the way enterprises engage customers using AI-driven virtual avatars and conversational intelligence, addressing a total addressable market exceeding USD 1 trillion. Their ability to personalize sales experiences and drive tangible revenue outcomes makes them a compelling investment. We have seen them grow over the years, looking at previous investments with them and with strong market validation, a scalable SaaS model, and a seasoned founding team, SucSEED sees immense potential in DaveAI’s growth trajectory,” said Vikrant Varshney, Co-Founder & Managing Partner, SucSEED Indovation Fund.
Founded in 2016 by Sriram P H, Ananth G, and Ashok Balasundaram, DaveAI is an AI-powered sales experience platform that helps brands drive sales with improved and interactive product discovery experiences using a Virtual Sales Avatar that mimics a human sales brain. DaveAI bridges the gap between self-assisted online discovery & salesperson-assisted offline discovery.
DaveAI’s platform GRYD, aids enterprises in industries such as automobile, BFSI and retail to personalize user journeys and drive revenue outcomes. The company’s suite of AI-powered solutions can be integrated across web, mobile, kiosk, or messaging platforms, helping businesses enhance both engagement and conversion. DaveAI’s architecture enables enterprises to create their own foundational enterprise models while remaining independent of vendors and cloud services, adapting to the rapidly evolving generative AI ecosystem.
DaveAI’s platform uses patent-pending deep neural networks & an online learning genetic algorithm to unearth multi-dimensional affinities between prospects, products & customers.
