The Indian Wire » Startups » LetsVenture invests ₹2.3 crores as debt funding in AI-driven commerce platform

LetsVenture invests ₹2.3 crores as debt funding in AI-driven commerce platform

B2B e-marketplace Pumpkart bags an undisclosed amount of funding from CII chairman Dinesh Dua

Niki, an artificial intelligence commerce startup, has bagged a debt funding of ₹2.3 crore from LetsVenture, reported yourstory.

According to sources, Bengaluru-based company has issued 2,30,760 unsecured Compulsory Convertible Debentures (CCD) at a value of ₹100 each.

Bengaluru-based ai powered conversational commerce startup was founded by Sachin Jaiswal, along with his other close associates. It helps users perform various digital transactions.

The app is currently being used by over 4.5 million users, the majority of which are non-English speaking users from smaller towns.

In July 2019, Niki partnered with Connect India, a logistics solutions provider, to enable internet users from under-served pincodes of India to manage all their household expenses, online.

Connect India’s network spanning over 8,000 centers in 20 states provides Niki an access to a large customer base while Niki’s interface, voice capabilities, and vernacular platform creates a revolutionary experience for the non-english speaking population in the country.

Furthermore, the startup also joined hands with Cleartrip and OYO to design a bot for hotel bookings.

Other players in the category involves GoodboxLookupYellowmessengerMihupDunzoMeziTapzo, etc.

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