Rezo.ai, a conversational AI startup has raised an undisclosed amount in seed funding led by Modulor Capital, Dexter Angel Network, Veda and prominent angels including Bhavesh Manglani (Co-founder Delhivery); Devesh Sachdev (Founder, Fusion Microfinance).
The Noida-based startup plans to use the funds for product development and entering new markets.
Rezo.ai is an AI-powered contact center transforming businesses with its turnkey services for quick scalability and better economics. Rezo.ai automates customer conversations across various touchpoints – voice, WhatsApp, email, chats and social media; analyze calls and interaction; coach and train agents and enhance customer experience within built RPA. Rezo.ai core works on proprietary algorithms built using machine learning (ML) and natural language processing (NLP).
Rezo.ai’s clientele includes marquee industry names such as Delhivery, USHA, ShipRocket, Dr.Lal Path Labs, Care Health Insurance, Reliance Nippon Life Insurance, Tata AIG to name a few.
The company was founded by IITian couple – Rashi Gupta (Co-founder and Chief Data Scientist) and Manish Gupta (Co-founder and CEO) in 2017.
Tushar Agrawal, Partner at Dexter Angels said “Conversational AI tech enables algorithms to mimic human conversations. The initial wave of conversational AI had rule-based bots, and used NLP to understand consumer intent from past conversations. We believe that the next wave is increasingly going to be voice-enabled. Rezo.ai is working at the forefront of this technology and enabling enterprises through customer service automation. The company has built solutions across channels – chat, email, social and voice. Rezo.ai has built a truly vernacular solution supporting 11 languages in voice and several languages in text.”
He further said, “Thus, enterprises can now stay closer to their customers, provide their customers great service experience and also improve productivity of their customer service teams. Rashi & Manish have built an experienced team working on a vision to disrupt the customer service automation industry. We are excited about the potential of their solutions and very happy to partner with them early in their journey.”
Commenting on the investment, Bhavish Sood, General Partner at Modulor Capital and incoming board member, said “What we saw in the team was the ability to build and scale a world-class Conversational AI product that could significantly drive down the cost of customer service function”.
Dr. Rashi Gupta, Chief Data Scientist & Co-founder, Rezo.ai, expressed, “We deeply value the support and trust of our investors, customers and partners. We are confident that our capabilities of disrupting contact centres ecosystem for enterprises across verticals, along with their continued support will be instrumental in shaping up the entire industry and encourage further innovation. We are certain to expand the business and empower many more enterprises with never before offered AI-powered solutions for transforming customer and employee experiences. The investment will also be used to rapidly expand into new markets and grow our teams in the US and the Middle East.”
Entrepreneur-turned-Investor – Vasant Rao (from Veda) stated, “Conversational AI helps organizations automate, refine and optimize tasks in real-time, which were otherwise heavily dependent on human intervention. This helps organizations reduce costs and improve user experience by removing the need for customers to navigate through complex problems themselves. We also see Conversational AI being able to transform other functions within organizations such as Sales, Marketing, Training and Onboarding, helping large enterprises tackle problems associated with scale effectively. Rezo’s offering was the best in the market making them an obvious bet to take in this space.”
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