Convin Bags $6.5 Mn To Help Enterprises With Sales Intelligence Solutions

SUMMARY

The round also saw participation from its existing investors Kalaari Capital, Titan Capital Winners Fund, Sparrow Capital and 100 Unicorns

Convin claims to have grown 3X over the past year and serves over 80 clients across major brands, including Reliance Nippon, Puravankara, Titan, Thyrocare and Lazypay

Founded by Ashish Santhalia, Bharat Patidar, Atul Shree and Durgesh Choudary in 2020, Convin empowers businesses to enhance customer interactions through advanced conversational intelligence

Convin, an AI-driven platform for virtual assisted selling for businesses, has raised $6.5 Mn (around INR 54.5 Cr) as a part of its Series A funding exercise co-led by India Quotient and JSW Ventures.

The round also saw participation from its existing investors Kalaari Capital, Titan Capital Winners Fund, Sparrow Capital and 100 Unicorns.

The Bengaluru-based company plans to use the fresh capital for team and distribution channel expansions.

Founded by Ashish Santhalia, Bharat Patidar, Atul Shree and Durgesh Choudary in 2020, Convin empowers businesses to enhance customer interactions through advanced conversational intelligence.

Convin’s Conversation Intelligence helps call centres improve agent performance, enhance customer experience, and increase conversion with the in-house developed LLMs (large language models). It offers support to over 35 languages, including 23 Indian languages.

Convin claims to have grown 3X over the past year and serves over 80 clients across major brands, including Reliance Nippon, Puravankara, Titan, Thyrocare and Lazypay.

It competes against the likes of few Indian and overseas competitors including Veerlop.ai, Zendesk and Dialpad among others.

The company aims to grow its customer base by 200% and eyes for 3x revenue growth in the financial year 2024-25.

“With more resources we’ll focus on accelerating our growth trajectory, driving innovation in conversation intelligence and expanding our footprint across India and Southeast Asia,” said Santhalia.

India’s enterprise market has been gaining a lot of traction from investors for quite some time now.

For instance, in April, Hyderabad-based enterprisetech startup Runo raised $1.5 Mn in a Pre-Series A funding round from Unicorn India Ventures and Callapina Capital.

In March, enterprise tech startup IDfy secured $27 Mn in a Series E funding round led by growth stage venture capital (VC) fund Elev8, with participation from KB Investment and Tenacity Ventures.

According to Inc42’s report on Indian Tech Startup enterprise tech startups witnessed a 68% decline in funding to $1.3 Bn in 2023 from $4 Bn in 2022.