ET BureauBENGALURU: Artificial intelligence-powered chat app Niki.ai has received undisclosed funds from Tata Sons chairman emeritus Ratan Tata and Unilazer Ventures’ founder Ronnie Screwvala.
The company intends to use the funds to strengthen technology and to increase the base of partner businesses.
"It’s a proud moment for the company to have an investment from Tata and for Unilazer to do a follow-on round," said Sachin Jaiswal, chief executive officer of Niki.ai. "With the continued support from our investors, we now want to expand aggressively across categories."
Niki uses natural language processing, a method that enables machines to understand human language inputs, and machine learning, wherein the machine self-learns with increasing data to converse with the customers over a chat interface and helps them place various orders.
The company works on a channel partnership model and generates revenue for every order processed on its platform. It is also working with brands to provide them chatbots, or robots that can have meaningful conversations, for their use in case and application.
Currently, Niki offers bill payments, cab booking, recharge, food ordering and cricket scores. It will soon offer laundry services, bus booking, hotel booking, event ticketing and doctor appointments. The company had earlier raised a seed round from Unilazer Ventures.
The company intends to use the funds to strengthen technology and to increase the base of partner businesses.
"It’s a proud moment for the company to have an investment from Tata and for Unilazer to do a follow-on round," said Sachin Jaiswal, chief executive officer of Niki.ai. "With the continued support from our investors, we now want to expand aggressively across categories."
Niki uses natural language processing, a method that enables machines to understand human language inputs, and machine learning, wherein the machine self-learns with increasing data to converse with the customers over a chat interface and helps them place various orders.
The company works on a channel partnership model and generates revenue for every order processed on its platform. It is also working with brands to provide them chatbots, or robots that can have meaningful conversations, for their use in case and application.
Currently, Niki offers bill payments, cab booking, recharge, food ordering and cricket scores. It will soon offer laundry services, bus booking, hotel booking, event ticketing and doctor appointments. The company had earlier raised a seed round from Unilazer Ventures.
( Originally published on May 19, 2016 )
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