[Update] Exclusive: Info Edge Joins Gnani.ai’s Cap Table With Fresh Funding

Update | July 30, 12:03 PM

Almost a few days after Inc42 had exclusively reported that Gnani.ai is raising investment from Info Edge, the startup has officially announced it today. It has bagged $4 Mn (INR 30 Cr) from Info Edge in what it calls as a Series A funding round. 

Original Story | July 27, 4:54 PM

Bengaluru-based GenAI startup Gnani.ai has mopped up a funding of around INR 25 Cr ($3 Mn) from tech-focused investor Info Edge, people aware of the development told Inc42 on the condition of anonymity.

It is pertinent to note that with this investment, Info Edge will join the cap table of the startup. 

The startup intends to use the fresh capital to expand its operations and increase its sales.

However, Gnani.ai did not respond to Inc42’s queries.  

Founded in 2017 by Ganesh Gopalan and Ananth Nagaraj, Gnani.ai’s AI customer experience platform helps automate conversations with its ‘Automate365’ virtual assistant. 

The startup also offers Assist365, a product that can guide agents in real time as they speak with customers. It has implemented GenAI in both text and voice formats, and it offers voice biometrics for fraud detection called Armour365. 

Currently, Gnani.ai has speech engines for 10 Indian languages and it works with approximately 40 lending companies in India, including the TVS Credit,  Baja Group, Fibe, and Muthoot Finance.

Speaking to Inc42 earlier this year, Gopalan had said, “While the startup has an omnichannel application, where its AI-based virtual assistance can automate conversations across all digital and conventional communication channels, including telephony, email and WhatsApp, around 90% of its business comes from voice.”

Overall, the startup has a customer base of over 100 companies, which also includes a few large enterprises in the US. It has more than 12 patents in its kitty.

The fresh investment comes almost five years after the startup had last raised an $1.68 Mn from Samsung Venture Investment Corporation in 2019. Prior to the fresh investment, the startup to date has raised $4 Mn in funding and counts backers such as Lakshmi Narayan, and BVR Mohan Reddy.

Gnani.ai competes with the likes of Haptik and Verloop.io in the GenAI space.