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
October 19, 2018
With this acquisition, IIFL Wealth will increase its client base, and will expand its portfolio mana ...More
By Vaishnavi Gupta
October 18, 2018
This is the second acquisition of InMobi in 2018, after it bought AerServ in January for $90 million ...More
By Vaishnavi Gupta
October 17, 2018
The Mumbai-based enterprise security company will make the investment through its wholly-owned subsi ...More
By Vaishnavi Gupta
October 16, 2018
This is the second acquisition of DailyNinja in Hyderabad after the acquisition of 4amShop in August ...More
By Vaishnavi Gupta
October 13, 2018
With this acquisition, the Bengaluru-based mobile entertainment services company will expand its bus ...More
By Vaishnavi Gupta
October 12, 2018
As part of the deal, Advent purchased entire 40% stake held by Indian PE firm Kedaara Capital and a ...More
By Vaishnavi Gupta
October 11, 2018
Future Enterprises will pay Rs 20 crores for the stake and Rs 5 crores additionally, if required. ...More
By Vaishnavi Gupta
October 11, 2018
The acquisition will help MobiKwik to strengthen its foothold in the digital financial services sect ...More
By Vaishnavi Gupta
October 10, 2018
The combined entity will be providing a comprehensive solution to convert waste plastic into valuabl ...More
By Vaishnavi Gupta
October 09, 2018
The company is expecting that the AP unit will help it to strengthen its presence in the highly comp ...More
By Vaishnavi Gupta
October 09, 2018
With the acquisition of Two Roads, Hyatt will expand its brand presence into 23 new markets. ...More
By Vaishnavi Gupta
October 08, 2018
The acquisition marks Mercer's entry into the global talent assessment market. ...More
By Vaishnavi Gupta