You are here: Home » PTI Stories » National » News
Business Standard

Active.Ai raises $8.25 mn from Vertex Ventures, others

Press Trust of India  |  New Delhi 

Singapore-based fin-tech platform, Active.Ai today said it has raised USD 8.25 million funding led by Vertex Ventures, Creditease Holdings and Dream Incubator.

The series A round also saw participation from existing investors, Kalaari and IDG Ventures India, Active.Ai said in a statement.

The company, which has an innovation lab in Bengaluru, delivers conversational services using artificial intelligence (AI).

Vertex Ventures Managing Partner Ben Mathias, Vani Kola (Managing Director at Kalaari Capital) will join Sanat Rao from IDG Ventures on the company's board of directors, the statement said.

Anju Patwardhan from Creditease will join as a board observer, it added.

Founded in early 2016, Active.Ai is working with banks and companies in India, Malaysia, and North America.

The company is planning to expand into other verticals like wealth management and securities trading, it said.

There is a very strong need for banks and financial institutions to evolve fast and empower customers with the ability to do transactions as part of their habitual daily micro-conversations, Active Intelligence co-founder and CEO Ravi Shankar said.

He added that the funding will help scale up and continue to hire talent for the AI team.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 14 2017. 18:57 IST