Mihup, an AI-driven conversation intelligence platform, has raised ₹50 crore in its Series A/B round of funding, led by public market investor Ashish Kacholia and the fund managed by Madhusudan Kela’s family office.
The company plans to use the newly raised capital to enhance its features and global expansion starting with global leaders in Japan and Germany’s automotive industry.
Tapan Barman, CEO and co-founder of Mihup said, “We are thrilled to have the support of Ashish Kacholia and Madhusudan Kela as our new partners. This funding will allow us to scale up our product offerings for the automotive and contact centre sectors, invest in research and development, expand globally, and bring us closer to our vision of being the operating system for every human-machine interaction,”
“Currently, we are expanding to the US. So that’s our primary target market, which we’re going to attack other than India. After the US, we are looking at Southeast Asia and the Middle East. But the US is something we are looking at very deeply,” he added.
Biplab Chakraborty, COO of Mihup, said, “We are committed to empowering individuals worldwide by enhancing human-machine interactions across all spoken languages.”
Founded by Tapan Barman and Biplab Chakraborty in 2016, Mihup is a Conversation Intelligence platform for driving analytics and audits on customer interactions.
The company has launched innovative applications like AVA, an in-car virtual assistant, and Mihup Interaction Analytics which offers real-time analytics and automation for contact centers.
With 100% year-over-year growth over the past three years, Mihup has secured Fortune 500 clients in the automotive, banking, and insurance sectors, helping them enhance efficiency by 30%.
Financially, Mihup’s current annual recurring revenue (ARR) is $4-5 million. Barman revealed that the company has set an ambitious target to reach $10-15 million in ARR within the next 24 months. Notably, around 80% of this revenue is expected to stem from the Indian market, while international markets are projected to contribute around 20% as Mihup’s expansion gains traction.
