your password has been reset successfully, Please login again.

AI startup Racetrack.ai bags $5 mn Pre-Series A fund

The 50-member startup, offers two flagship products a chatbot for sales and support, and a business accelerator that helps in better business planning and execution.
BY BEx Bureau
BusinessEx
Aug 02, 2018

Artificial intelligence platform Racetrack.ai said it has secured $5million from a group of high net-worth individuals in a funding round that has valued it at $21 million.

With the fresh capital, we are now looking forward to announce our next overseas operation base in the USA, Mauritius and Singapore, Subrat Parida, founder of Bengaluru-based Racetrack.ai, said. We further plan to raise our Series A by the end of this year.

Founded in 2015, the 50-member startup, offers two flagship products a chatbot for sales and support, and a business accelerator that helps in better business planning and execution.

This move will help us delve into newer business verticals like retail, banking and healthcare. This boost in our physical presence will open new doors for us to partner with intercontinental brands and decision-makers while helping us to create global footprint in the AI industry, Parida said in a statement.

According to Parida, Racetrack.ai is targeting business verticals like BFSI, education, health, hospitality, and real estate, in the booming $100 billion AI market.

A study revealed in December by Accenture said AI could add $957 billion to the Indian economy or increase the countrys income by 15% by 2035 by changing the nature of work to create better outcomes.

In the first half of 2018, India recorded overall flow of $3.6 billion through external funding rounds made across 411 deals in startups.

Please add your Comment
SIMILAR News
February 20, 2019
Government has launched the second report of states’ ranking 2019 as per the decided framework. ...More
By Jaspreet Kaur
February 19, 2019
Union minister, Suresh Prabhu informs that the ministry has altered the definition of startups. ...More
By Jaspreet Kaur
January 22, 2019
China expects a slowdown in the FY-2019; trade war and decreasing demand need to be blamed. ...More
By Jaspreet Kaur
January 22, 2019
USB Q4 pre-tax profit leaps down by $1.038 billion; the bank envisions a slowdown in the further cou ...More
By Jaspreet Kaur
January 16, 2019
Commerce and Industry Ministry has exempted taxes on startups, who actively looking for angel invest ...More
By Jaspreet Kaur
November 20, 2018
Through this investment, BillDesk will develop new product lines for its payments and loyalty busine ...More
By Vaishnavi Gupta
November 19, 2018
Ananth Narayanan, Chief Executive Officer of Myntra, will continue to lead the team. ...More
By Vaishnavi Gupta
November 16, 2018
This acquisition will help FarEye to reinforced its growth plans to solve challenges for long-haul a ...More
By Vaishnavi Gupta
November 14, 2018
True North has acquired a 75% stake in Shree Digvijay Cement Company Ltd from Brazil-based Votoranti ...More
By Vaishnavi Gupta
November 13, 2018
The investment is made by the firm to boost its capabilities to deliver tech solutions that will hel ...More
By Vaishnavi Gupta
November 12, 2018
With this acquisition, Mphasis will increase its end-to-end capabilities in the public cloud domain, ...More
By Vaishnavi Gupta
November 12, 2018
This acquisition will help Mumbai-listed AGC to add over $600 million in annual revenue and about 3, ...More
By Vaishnavi Gupta