Fibr Raises $1.8 Mn To Offer AI-Powered Martech Solutions

SUMMARY

The round was led by Accel and also saw participation from 2AM VC, along with angel investors Kunal Shah and former Zenoti cofounder Sunil Kumar

The startup plans to use the funds to enhance its AI capabilities, expand its customer base, and increase its headcount across departments

Founded in January 2023, Fibr helps brands reduce CAC and improve conversion rates through its AI-powered martech solutions

AI-powered martech startup Fibr has raised $1.8 Mn (around INR 15 Cr) in a seed funding round led by venture capital firm Accel. The round also saw participation from 2AM VC, and angel investors Kunal Shah of CRED and Sunil Kumar, ex-cofounder of Zenoti.

Fibr plans to utilise the funds to enhance its tech stack and expand customer base. In a statement, the startup said it also plans to use the funds to increase its headcount to facilitate engineering, product marketing, and sales departments.

Founded in 2023 by Ankur Goyal and Pritam Roy, Fibr offers an AI-powered platform that helps marketeers reduce customer acquisition cost (CAC) and improve conversion rates. Its flagship offering, Pilot, helps brands create personalised landing pages for ads, emails, and SMSes.

Commenting on the fundraise, partner at Accel Prayank Swaroop said, “We’re thrilled to support their vision of an AI-powered personalisation hub that empowers marketeers with greater efficiency and control to deliver superior results.”

The startup’s another product, Blocks, allows marketeers to adapt existing content across formats such as converting a high-performing Facebook ad into a blog post or Google ad. It primarily targets clients in North America, Canada, and India.

Since its beta launch earlier this year, Fibr claims to have acquired multiple clients, including ACT Fibernet, Star Health, and other D2C brands. Fibr competes with the likes of global players such as Instapage, Unbounce, and Leadpages, among others.

The fundraise comes at a time when an increasing number of enterprises and businesses are rapidly adopting GenAI to boost efficiency and automate operations. As per Inc42 data, India is currently home to more than 100 GenAI startups and these startups have raised more than $600 Mn between 2019 and 2023.

Fibr competes in the larger Indian AI-powered martech space projected to reach a market size of $9.6 Bn by 2032.

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