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CoRover Secures $4 Million for GenAI Chatbot Platform

CoRover, a Bengaluru-based conversational AI startup, has raised USD 4 million in its Series A funding round, led by Venture Catalysts. This funding comes as a significant boost to CoRover's mission to revolutionize customer experience with its innovative chatbot platform powered by GenAI.

• The funding round saw participation from several notable investors, including CanBank Venture Capital Fund (CVCFL), IIM Calcutta (Innovation Park), IIIT Delhi (iHub Anubhuti IIITD Foundation), Cogniphy LLC, Karekeba Ventures, and Lead Angels.
• This investment builds on an earlier investment in July 2021 from CVCFL, which provided an undisclosed amount from its Fund VI.

CoRover's Vision for the Future of Conversational AI

CoRover's chatbot platform, powered by GenAI, aims to make technology more human-centric by bridging the gap between man and machine interaction.

• The startup offers a comprehensive managed Chatbot as a Service (CaaS), complemented by an AI-based VideoBot platform.
• CoRover's AI bots are accessible across multiple channels, including websites, apps, WhatsApp, IVR, SMS, Microsoft Teams, and various social media platforms.
• The platform supports over 100 foreign languages and 12 Indian vernacular languages, providing a wide array of communication formats including text, voice, and video.

CoRover's Technological Innovation

CoRover's innovative platform is built on patent-pending technology integrating AI, machine learning (ML), natural language processing (NLP), augmented reality (AR), virtual reality (VR), and Internet of Things (IoT) for seamless integration of conversational AI solutions.

• CoRover leverages BharatGPT, an indigenous sovereign AI (Large Language Model, LLM) renowned for its accuracy, contextual relevance, cultural awareness, and commitment to responsible AI practices.

CoRover's Impact on Customer Experience

CoRover's GenAI-powered chatbot solutions are designed to reduce costs, enhance revenue, and improve customer experience and operational efficiency.

• CoRover's chatbot platform has been deployed across various industries, including e-commerce, healthcare, finance, education, BFSI, mobility, and retail.
• The startup provides solutions that meet the needs of businesses of all sizes, from small enterprises to large corporations, across various geographic regions.

CoRover's Notable Innovations

CoRover has developed several notable innovations, showcasing its commitment to pushing the boundaries of conversational AI.

• BharatGPT (LLM): An indigenous sovereign AI (Large Language Model) renowned for its accuracy, contextual relevance, cultural awareness, and commitment to responsible AI practices.
• CoroAssist: A secure GenAI-based copilot for enterprises, designed to streamline workflows and enhance productivity.
• eSevak: A conversational chatbot for citizen grievances management, facilitating efficient and transparent communication with government agencies.
• AskDISHA at Indian Railways & IRCTC: A chatbot that provides real-time information and assistance to railway passengers.
• Ask PAi at NPCI: A chatbot that provides support and information to customers of the National Payments Corporation of India (NPCI).
• AskMitra at LIC: A chatbot that offers customer support and information to customers of Life Insurance Corporation of India (LIC).
• Chetna at DMRC: A chatbot that provides information and guidance to commuters of the Delhi Metro Rail Corporation (DMRC).
• SEVA at SEBI: A chatbot that provides information and assistance to stakeholders of the Securities and Exchange Board of India (SEBI).

Venture Catalysts' Investment Rationale

Apoorva Ranjan Sharma, Co-founder and Managing Director of Venture Catalysts, believes that CoRover's innovative approach to creating human-centric conversational AI aligns perfectly with the growing demand for more natural and effective digital interactions.

• Venture Catalysts sees the potential for CoRover's platform to transform how businesses engage with customers across various industries.

CoRover's Impact on the Indian Startup Ecosystem

CoRover's success story reflects the growing strength of the Indian startup ecosystem, particularly in the field of artificial intelligence (AI) and conversational AI.

• CoRover's commitment to developing innovative chatbot solutions powered by GenAI positions it as a leading player in the Indian tech landscape.