Funding Alert
Stellaris Venture leads $4.2 mn seed round in AI chatbot firm LimeChat
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ByStartupStory | April 13, 2022
Wavicle Technologies Pvt Ltd, the company that owns and manages LimeChat, an artificial intelligence-based chatbot, announced on Tuesday that it had acquired $4.2 million in early funding led by Stellaris Venture Partners. Pi Ventures, Titan Capital, and a few angel investors also participated in the round, according to the firm, which did not reveal the names of the investors.
The new funds will be used to improve the startup’s product and extend its go-to-market activities. This is the company’s second round of seed funding. It intends to put the money toward improving its product and expanding its go-to-market activities.
LimeChat, founded in 2020 by Aniket Bajpai and Nikhil Gupta, offers a conversational marketing AI chatbot platform to direct-to-customer (D2C) firms. From product discovery to checkout to returns, the platform’s assistant allows the brand to answer client queries in real-time.
Furthermore, LimeChat’s WhatsApp Retention Campaigns assist marketers in engaging customers on WhatsApp, allowing them to triple campaign conversions, cut support workloads by 70%, and boost customer happiness, the company said.
Presently, the firm works with over 25 direct-to-consumer brands in the fashion, beauty and cosmetics, and health and wellness industries. It claims that its customized automated conversational commerce technology has helped companies raise conversion rates by 10x when compared to standard website conversion rates.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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