How Much Did BiteSpeed Raise? Funding & Key Investors

BiteSpeed has successfully navigated five funding rounds, attracting a total of 27 investors, including notable names like Surge and Dhruv Vohra. The company specializes in an AI-powered customer operating system tailored for e-commerce brands, offering a comprehensive suite of marketing and support tools.

Keep reading to explore the intricacies of BiteSpeed's fundraising journey and the investors backing this innovative platform.

What Is BiteSpeed?

BiteSpeed, based in Gurgaon, Haryana, India, is an AI-powered customer operating system designed for e-commerce brands. The company operates in the fields of Artificial Intelligence, E-Commerce, Information Technology, and Messaging.

With a small team of 1-10 employees, BiteSpeed focuses on leveraging AI to enhance customer operations and experiences for online retailers. The platform integrates multiple communication channels like WhatsApp, Email, SMS, and Instagram into a unified system, aiming to scale personalized conversations and automate support queries.

Founded by Actartly Technology Private Limited, BiteSpeed has successfully raised funding over five rounds, attracting a total of 27 investors, including notable names like Surge and Dhruv Vohra.

How Much Funding Has BiteSpeed Raised?

1. Seed Round
   • Amount Raised: USD 275,000
   • Date: December 2020
   • Lead Investors: Whiteboard Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Initial seed funding to kickstart the company's operations.
2. Seed Round
   • Amount Raised: INR 140,000,000 (approximately USD 1.9 million)
   • Date: February 2022
   • Lead Investors: Surge
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop the product and expand initial market reach.
3. Pre-Seed Round
   • Date: January 2022
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Early-stage funding to support initial development and operations.
4. Seed Round
   • Amount Raised: USD 3,500,000
   • Date: November 2024
   • Lead Investors: Surge
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate hiring, support global expansion, and deepen R&D efforts in generative AI.

Total Amount Raised: USD 5,675,000

Current Valuation: Not publicly disclosed

Key Investors

• Surge
  • Details: Surge is a rapid scale-up program by Peak XV Partners (formerly Sequoia India and Southeast Asia) designed to supercharge early-stage startups.
  • Investment Focus Areas: Technology, consumer, healthcare
  • Notable Investments: Zomato, Byju's, OYO, Freshworks
• Whiteboard Capital
  • Details: Whiteboard Capital is an early-stage venture capital firm that invests in technology-driven startups.
  • Investment Focus Areas: Technology, consumer internet, SaaS
  • Notable Investments: Dunzo, Khatabook, Jupiter
• Gaurav Munjal (Unacademy)
  • Details: Gaurav Munjal is the co-founder and CEO of Unacademy, an online education platform.
  • Investment Focus Areas: Edtech, technology, consumer internet
  • Notable Investments: Unacademy, Relevel, Graphy
• Aakash Anand (Bella Vita)
  • Details: Aakash Anand is the CEO of Bella Vita Organic, a natural beauty and skincare brand.
  • Investment Focus Areas: Consumer goods, beauty, wellness
  • Notable Investments: Bella Vita Organic
• Dhruv Vohra (Meta)
  • Details: Dhruv Vohra is the APAC Head at Meta (formerly Facebook), overseeing business operations in the Asia-Pacific region.
  • Investment Focus Areas: Technology, social media, digital advertising
  • Notable Investments: Meta (Facebook), Instagram, WhatsApp

What's Next for BiteSpeed?

With a fresh infusion of $3.5 million, BiteSpeed is poised to accelerate its global expansion, particularly targeting North America, Europe, the Middle East, and Southeast Asia. The company plans to bolster its marketing, sales, and technical teams to support this growth. Additionally, BiteSpeed aims to deepen its research and development efforts in generative AI, enhancing its suite of products for e-commerce brands.

Future fundraising opportunities seem promising as the company scales and demonstrates growth in new markets. The ongoing expansion and R&D initiatives suggest that additional funding may be sought to support these ambitious plans. However, BiteSpeed will need to navigate challenges such as competition from other AI-powered e-commerce solutions and the complexities of scaling operations globally while maintaining service quality.

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