Total amount raised
$12.2 Millions
Latest funding date
4/1/2016
Location
Haptik has successfully raised $12.2 million over two funding rounds, with the latest being a Series B in April 2016. The company is a leading conversational AI platform, offering innovative solutions to enhance business efficiency.
Keep reading to explore the intricacies of Haptik's fundraising journey and the investors backing this cutting-edge platform.
What Is Haptik?
Haptik, founded by Swapan Rajdev and Aakrit Vaish, is a leading conversational AI company. Established in 2013, it operates from Delhi, Mumbai, and Bangalore Urban.
With a team of 201-500 employees, Haptik has reached over 500 million devices and processed over 5 billion conversations. The company specializes in enterprise-grade conversational AI platforms.
Haptik's solutions enhance customer experience and optimize business operations, leveraging AI to drive efficiency across various sectors.
How Much Funding Has Haptik Raised?
- Seed Round
- Amount Raised: $1,000,000
- Date: September 2014
- Motivation Behind the Round: To develop and scale their customer support platform.
- Series B Round
- Amount Raised: $11,200,000
- Date: April 2016
- Lead Investors: Times Internet
- Motivation Behind the Round: To expand their mobile concierge services and enhance their AI capabilities.
Haptik has raised a total of $12,200,000 in funding. The current valuation is $11,200,000 (~estimated).
Key Investors
- Times Internet
- Details: Times Internet is a major digital products company and a subsidiary of The Times Group, one of India's largest media conglomerates. It operates various online media businesses covering news, sports, e-commerce, and more.
- Investment Focus Areas: Digital media, e-commerce, on-demand services
- Notable Investments: Taskbucks, MX Player, Dineout
- Reliance Jio
- Details: Reliance Jio is a telecommunications company and a subsidiary of Reliance Industries, one of India's largest conglomerates. It revolutionized the Indian telecom sector with its affordable data plans and extensive 4G network.
- Investment Focus Areas: Telecommunications, digital services, media
- Notable Investments: Saavn, Haptik, Embibe
- Kalaari Capital
- Details: Kalaari Capital is a venture capital firm based in India, known for investing in early-stage technology startups. It has a strong track record of supporting innovative companies in their growth journeys.
- Investment Focus Areas: Technology, e-commerce, healthcare
- Notable Investments: Dream11, CureFit, Myntra
- Blume Ventures
- Details: Blume Ventures is an early-stage venture fund that backs startups with innovative ideas and strong growth potential. It is one of India's leading venture capital firms.
- Investment Focus Areas: Technology, fintech, healthcare
- Notable Investments: Unacademy, Dunzo, HealthifyMe
- 500 Startups
- Details: 500 Startups is a global venture capital firm and startup accelerator. It has invested in thousands of companies worldwide, providing them with the resources and mentorship needed to scale.
- Investment Focus Areas: Technology, fintech, e-commerce
- Notable Investments: Canva, Credit Karma, Udemy
What's Next for Haptik?
Haptik stands at the cusp of significant growth, leveraging Times Internet's vast reach to expand its user base and visibility. With the growing trend of chat-based commerce and AI integration, the company is well-positioned to capitalize on these opportunities. The potential to reach 150 million users monthly through Times Internet's platforms presents a substantial market for Haptik's services.
Future fundraising opportunities seem promising as Haptik continues to scale and enhance its AI capabilities. Investors interested in AI and chat-based services are likely to find Haptik an attractive prospect. However, the company must navigate challenges such as competition from global players like Facebook Messenger and ensuring the efficiency and reliability of its AI systems to maintain user satisfaction.
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