Total amount raised
$12.2 Million
Latest funding date
4/1/2016
Location
Haptik has successfully raised funding over two rounds, with the latest being a Series B round. The company is backed by investors including Times Internet and Vivek Kumar.
Keep reading to explore the intricacies of Haptik's fundraising journey and the investors backing this innovative platform.
What Is Haptik?
Haptik, based in Mumbai, Maharashtra, India, specializes in AI-driven solutions for brands. The company operates in various sectors, including artificial intelligence, customer service, and machine learning. It has been acquired by Reliance Jio and employs between 251 and 500 people.
Jio Haptik Technologies Limited focuses on building AI-driven customer experience solutions. Their AI agents are designed to deliver human-like interactions and are scalable to meet enterprise needs. The company offers a range of AI agents for different use cases, including customer service, sales, booking, and lead qualification.
How Much Funding Has Haptik Raised?
- Series A
- Amount Raised: USD 1,000,000
- Date: September 2014
- Lead Investors: Kalaari Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch and establish the Haptik service.
- Series B
- Amount Raised: USD 11,200,000
- Date: April 2016
- Lead Investors: Times Internet
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To increase visibility and user base in India, leveraging Times Internet's extensive reach.
Total Amount Raised: USD 12,200,000. Current Valuation: Not publicly disclosed.
Key Investors
- Times Internet
- Details: Times Internet is a digital products company and a subsidiary of The Times Group, India's largest media conglomerate. They have a significant presence in digital media, technology, and internet services.
- Investment Focus Areas: Digital media, technology, internet services
- Notable Investments: Gaana, MX Player, Dineout
- Kalaari Capital
- Details: Kalaari Capital is an early-stage venture capital firm based in India. They focus on technology-oriented companies and have a strong presence in the Indian startup ecosystem.
- Investment Focus Areas: Technology, e-commerce, digital media, mobile applications
- Notable Investments: Dream11, CureFit, Myntra
What's Next for Haptik?
Haptik stands at the cusp of significant growth, leveraging Times Internet's extensive reach to expand its user base. The integration of AI to handle customer requests more efficiently positions Haptik well within the burgeoning chat-based commerce market. This opportunity is vast, given Times Internet's 150 million monthly users and the increasing global trend towards AI-driven customer service.
Future fundraising appears promising, with the potential for additional rounds to support further AI development and market expansion. However, Haptik will need to navigate challenges such as competition from global players like Facebook and ensuring the scalability of its AI solutions. Maintaining user satisfaction as the platform scales will be crucial for sustained growth.
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