LimeChat is a D2C AI-based chatbot startup and has revealed to have raised $750,000 in a seed funding round. Pi Ventures and Stellaris Venture Partners led the round along with participation from a group of angel investors, including Flipkart CEO Kalyan Krishnamurthy, Ramakant Sharma, Sujeet Kumar, Dilip Khandelwal, and others.
A statement revealed that the startup intends to utilize the raised capital to grow its team and expand its go-to-market operations.
Established in 2020 amidst the pandemic-induced hike in the adoption of e-commerce in India. The chatbot provides conversational experiences to customers on platforms like WhatsApp and Facebook Messenger.
“When we started, the word ‘chatbot’ was an overused term, and the value being delivered through them was very limited,” LimeChat co-founder Nikhil Gupta said. “We wanted to leverage our AI research background to develop cutting-edge conversational intelligence capable of delivering exceptional customer experiences.”
Previously, at the beginning of last year, LimeChat had raised a pre-seed round from Titan Capital.
The company is presently working with over 25 D2C brands across the fashion, beauty and cosmetics, and health and wellness segments.
Commenting on the development, co-founder Aniket Bajpai said, “Limiting our focus solely to the e-commerce vertical enabled us to engineer the tailormade contextual interactions which customers desire.”
Speaking about the investment, Pi Ventures Principal Shubham Sandeep stated, “At Pi, we back ventures solving large global problems using disruptive technology, and LimeChat fits the bill perfectly. Conversational commerce is taking off as evidenced by over 100 million business accounts across WhatsApp and Facebook Messenger.
“Assisted commerce is a massive market ripe for disruption. LimeChat’s differentiated, Level 3 conversational AI enables any chat medium to become a sales channel,” said Alok Goyal, partner at Stellaris Venture Partners.
The pandemic has pushed more and more people to adopt digital commerce. This poses a huge opportunity for LimeChat to lead the industry.Shishir Gupta, Founder and CEO, StartupLanes
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