BiteSpeed Nets $3.5 Mn To Expand AI Offerings For Ecom Players

AI-driven ecommerce focussed startup BiteSpeed has secured $3.5 Mn (around INR 29.5 Cr) in Pre-Series A funding led by Peak XV Partner’s accelerator programme Surge.

The round also saw participation from Whiteboard Capital, Unacademy CEO Gaurav Munjal, Bella Vita CEO Aakash Anand and Meta APAC head Dhruv Vohra among others.

BiteSpeed claims to have raised $5.6 Mn in total funding till date. The Bengaluru-based startup plans to deploy the fresh funds for expansion across marketing, sales and technical verticals.

It also aims to grow its overseas footprint in North America, Europe, the Middle East, and Southeast Asia. 

Founded in 2019 by Vinayak Aggarwal, BiteSpeed allows online D2C brands to interact with their customers and sell products on messaging apps such as WhatsApp and Facebook Messenger using chat as a core communication channel.

“This new funding round gives us the necessary ammunition to empower e-commerce brands with an AI-native marketing, support, and chatbots suite that unifies their customer engagement while driving over 25% owned revenue growth,” said Aggarwal.

The startup is looking to push its research and development (R&D) in the GenAI space.

BiteSpeed claims to serve more than 2,500 Shopify brands in 50 plus countries including the Middle East, Southeast Asia (SEA), Europe, and North America. It has worked with Skybags, Ugaoo, and Zouk, the statement said. 

The development comes at a time when Indian startups are leveraging the use of generative AI to scale their operations. India has more than 100 GenAI startups and these startups have raised more than $600 Mn since 2019, as per Inc42’s India’s Generative AI Startup Landscape Report, 2023. 

Recently, AI SaaS startup Ennoventure raised $8.9 Mn (around INR 75.10 Cr) in a Series A funding round led by Tanglin Venture Partners.