Wavicle Technologies Pvt Ltd, which owns and operates artificial intelligence-based chatbot startup LimeChat, on Tuesday said it has raised $4.2 million in a seed funding led by Stellaris Venture Partners.
The round also saw participation from Pi Ventures, Titan Capital and a few angel investors, the firm said in a statement, without disclosing the names of the investors.
The startup plans to use the fresh funds to strengthen its product and expand its go to market operations.
Founded in 2020 by Aniket Bajpai and Nikhil Gupta, LimeChat provides an AI chatbot platform to direct-to-customer (D2C) brands for conversational marketing.
The platform’s assistant lets the brand instantly respond to customer queries from the time of product discovery to checkout to returns, it said.
Moreover, LimeChat’s WhatsApp Retention Campaigns help brands engage customers on WhatsApp, which allows brands to increase campaign conversions by three times, reduce support workloads by 70%, and improve customer satisfaction, the company said.
“D2C as a category has witnessed explosive growth in the last few years. Pairing this with the opportunity that WhatsApp poses for brands to leverage as a commercial channel can create exceptional customer experiences,” said Alok Goyal, Partner, Stellaris Venture Partners.
The company claimed to have grown a three-fold increase over the last six months and said it has expanded its client base to over 125 brands in India and across the globe, which include Mamaearth, MCaffeine, Wow Skin Science, among others.
“Our growing client base stands testimony to the impact we have been able to generate for businesses. As we continue to build a category-defining SaaS (software-as-a-service) company for global e-commerce brands, with Stellaris’ track record in building global SaaS leaders and defining growth stories of leading D2C brands,” said Nikhil Gupta, Co-Founder of LimeChat.