28 June 2017, India:
Bangalore-based online electronic commerce company Niki.ai has raised $2 million in the latest round of funding led by San Francisco-based SAP.iO and existing investor Unilazer Ventures.
Indian investors including Haresh Chawla, a partner at True North; and Arihant Patni, managing director at Hive Technologies also participated in this round.
“The injection of the new capital will be used in further strengthening our machine learning capabilities, building voice and multilingual functionalities, and expanding our distribution network,” said Niki.ai CEO Sachin Jaiswal.
Niki.ai was founded in May 2015 by 4 IIT Kharagpur graduates- Sachin Jaiswal, Keshav Prawasi, Shishir Modi and Nitin Babel.
Ronnie Screwvala, managing partner of Unilazer Ventures, said: “In less than two years we have made progress in multiple spheres and struck diversified relationships with a majority of corporate India. In the last year, I did three follow-up rounds with Niki given its track record and the right entrepreneur founders at the helm.”