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AI startup Uniphore raises USD 51 mn in funding

Press Trust of India  |  New Delhi 

Uniphore, the conversational artificial intelligence technology company, on Tuesday said it has raised USD 51 million (about Rs 364.5 crore) in funding led by March Capital Partners.

The series C round also saw participation from Chiratae Ventures (formerly IDG Ventures), Sistema Asia, CXO Fund, ITP, Iron Pillar, Patni Family and other investors, a statement said.

The new round of funding is Uniphore's largest till date and marks one of the most substantial funding rounds in the conversational AI (artificial intelligence) sector, it added.

"Uniphore will use the funds to accelerate its go-to-market in North America, invest in research and development for the next wave of innovation on its platform and grow its talented employee base globally," it said.

In 2017, former Cisco Chairman and JC2 Ventures CEO and founder, John Chambers had picked up 10 per cent stake in Uniphore.

Uniphore CEO and co-founder Umesh Sachdev said the latest funding will accelerate the company's vision of redefining customer service through AI-enabled conversational service automation (CSA).

"With this new round of funding, we will be able to accelerate our global expansion and better serve our customers by developing and delivering innovative CSA solutions to more organizations around the world," he added.

The company said it had registered 300 per cent year-over-year growth in 2018. Some of its customers include BNP Paribas, NTT Data, and PNB MetLife.

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

First Published: Tue, August 13 2019. 19:05 IST