Bengaluru-based conversational artificial intelligence developing company Senseforth.AI raises $14 million from Fractal in its corporate funding round. Sensforth.AI plans to use this funding to expand into the global market and penetrate the customer base of Fractal.
The investor will also use this opportunity to further enhance its artificial intelligence platform with the help of Senseforth.AI’s expertise. It is being predicted that by 2022 more than 30% of the customer support sector will adopt conversational artificial intelligence solutions for their operations.
Sensefoth.AI’s platform A.wire enables businesses to quickly train and deploy conversational AI models cost-effectively and efficiently. The platform also helps to reduce operational costs and increases productivity.
Co-founder and the Chief Executive Officer of Senseforth.AI, Shridhar Marri, said, “This strategic investment creates a new growth blueprint for Senseforth.ai. We are thrilled to deliver on our vision “to make technology human-like,” enabling continuous Human-AI interaction, transforming complex business processes.”
He also mentioned that this funding would allow them to invest more in the research and development process in order to offer better services to its customers.
Senseforth.AI was founded by Krishna Kadiri, Shridhar Marri, and Ritesh Radhakrishnan in the year 2017. The firm has raised a total funding of $16 million to date. Senseforth.AI’s platform also offers pre-built business bots a better customer service experience.
Co-founder and Vice-Chairman of Fractal, Shrikant Velamakanni, said, “Senseforth.ai’s founders Shridhar, Krishna and Ritesh have built a great team and a robust platform that’s deployed at scale with marquee clients like HDFC Bank.”
He further added that Senseforth.AI’s technology is the current market-leader in the conversational AI industry and they are thrilled to be a part of the next phase of the company’s growth