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ORAI, as a leading Enterprise Conversational AI Platform, has raised INR 6.5 Crore in a Pre-Series A round of funding led by a renowned angel investment network ‘Inflection Point Ventures’ (IPV).
Founded in 2020 by Sujit Das Biswas and Swapnil Jain. The funds raised will be utilised for expansion of sales & marketing, to capture larger markets, product development and enhancements, and towards R&D.
ORAI addresses a major problem by providing 100% automation powered by AI with all the advanced features within a single bot. This bot handles all customer support, customer outreach and customer engagement as well as sales support and post-sales support. WhatsApp commerce is also available on the platform. This allows you to automate business conversations via WhatsApp using the power of AI.
Speaking on the funding in ORAI, Vinay Bansal, Founder & CEO, Inflection Point Ventures said, “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 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,” Vinay added.
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 provides customers with an end-to-end platform, solution, and service. It is an all-in-1 conversational AI platform that allows clients to increase revenues and ROI. using Humanised virtual assistant enabling real-time 3-way communication and Automated lead qualification. There is a one-time integration fee and a monthly subscription fee depending on the usage scale. ORAI currently serves over 100 customers, including Sayaji Hotel and GMR Delhi, Group Landmark, Kataria Group and Emcure.
ORAI is a powerful enterprise solution that can be used for many different purposes. As customers can be reached via new channels such as WhatsApp, Google Assistant and Alexa, the engagement rate of digital users has increased by at least 200%. It has enabled businesses to increase qualified leads and boost business revenue. It provides clients with 24x7 access to information and handles queries better. This platform also helps customers retain and acquire new customers.
ORAI's platform integrates with CRM (Salesforce), ERP (SAP) so any information customer, retailer or distributor needs is only a WhatsApp message away. This includes payment details, quotations and outstanding summaries, order status, order status, and more. The customer, retailer or distributor need only initiate the chat. All responses can be integrated and automated via WhatsApp chat using a verified WhatsApp account. The current solution reduces the call centre team's workload by almost 30%.
The global conversational AI market size is expected to grow from $4.8 billion in 2020 to $13.9 billion by 2025, at a compound annual growth rate 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.
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