DaveAI raises funding from Inflection Point Ventures, SucSEED Indovation Fund

DaveAI, a patented cutting-edge AI conversation experience cloud, today announced a growth investment round led by Inflection Point Ventures and SucSEED Indovation Fund.

The growth investment round had a strategic mix of equity and debt with participation from Soonicorn Ventures, Yes Bank and Mr.Mohan Kumar, Founder at Crestere Technologies LLP. 

What does DaveAI do?

Founded by Sriram P H, Dr. Ananth G, and Ashok in 2016, DaveAI's platform GRYD, aids enterprises in industries such as automobile, BFSI and retail to personalize user journeys and drive revenue outcomes.

The startup's suite of AI-powered solutions can be integrated across web, mobile, kiosk, or messaging platforms, helping businesses enhance both engagement and conversion.

Its architecture enables enterprises to create their own foundational enterprise models while remaining independent of vendors and cloud services, adapting to the rapidly evolving generative AI ecosystem.

Purpose of fundraising

The startup will use the raised funding for developing technology leadership, expanding its partner ecosystem, and fast-track global market penetration.

"DaveAI will use this investment to build its proprietary domain-specific Small Language Models focused on industries like Automobile, aiming for a leadership position in AI software for the industry and scaling into new markets such as North America," said Sriram PH. 

"To make a major impact in AI from India and the world, we have to invest in some fundamental technology and domain expertise. We are in line towards making this happen with this pre-series A investment round,” said Dr. Ananth G.

DaveAI's market presence

DaveAI claims to have expanded its footprint in India, the Middle East, and North America, delivering cutting-edge conversational AI solutions that redefine digital interactions.

"Companies today face one similar problem on the customer service end, i.e. delivering a personalized and engaging customer interaction at a large scale. DaveAI is solving that using advanced AI-powered virtual avatars and conversational intelligence to transform customer engagement across industries to improve customer service experience," said Mitesh Shah, Co-Founder of Inflection Point Ventures.

"DaveAI is transforming the way enterprises engage customers using AI-driven virtual avatars and conversational intelligence, addressing a total addressable market exceeding $1 trillion. Their ability to personalize sales experiences and drive tangible revenue outcomes makes them a compelling investment," said Vikrant Varshney, Co-Founder & Managing Partner of SucSEED Indovation Fund. 

"We have seen them grow over the years, looking at previous investments with them and with strong market validation, a scalable SaaS model, and a seasoned founding team, SucSEED sees immense potential in DaveAI's growth trajectory.”