CoRover Secures $4 Million in Series A Funding to Boost Conversational AI Development

CoRover AI secures $4 million in funding round led by Venture Catalysts

The funding will enable CoRover to further develop its technology, expand its team of AI experts, and accelerate its go-to-market strategy, CoRover said in a statement. It added that the company plans to focus on enhancing its enterprise (B2G and B2B), B2B2C, and B2C offerings, while also exploring new revenue streams.BharatGPT maker CoRover AI on Tuesday announced that it received $4 million in series A funding, led by Venture Catalysts. Other participants in the round included CanBank Venture Capital Fund, IIM Calcutta (Innovation Park), IIIT Delhi (iHub Anubhuti IIITD Foundation), Cogniphy LLC, Karekeba Ventures, and Lead Angels. The funding will enable CoRover to further develop its technology, expand its team of AI experts, and accelerate its go-to-market strategy, CoRover said in a statement. It added that the company plans to focus on enhancing its enterprise (B2G and B2B), B2B2C, and B2C offerings, while also exploring new revenue streams through subscription-based models, ad-based revenue, and transaction-based fees. The Bengaluru-based startup offers generative AI-powered conversational bots for businesses across chat, voice, video formats across industries such as ecommerce, healthcare, finance, education, BFSI, mobility, and retail. "CoRover represents the future of human-machine interaction. Their innovative approach to creating human-centric Conversational AI aligns perfectly with the growing demand for more natural and effective digital interactions. We believe their platform has the potential to transform how businesses engage with customers across various industries," said Apoorva Ranjan Sharma, cofounder, Venture Catalysts. The company's vision is to make AI technology more human to enable hardware and software systems to communicate as humans do, said cofounder Ankush Sabharwal. "With this investment, we are equipped with the required arsenal to advance our GenAI-powered conversational AI, expanding its reach and influence, all while staying true to our commitment to human-centric innovation," he said. CoRover's solutions have been deployed by partners such as Indian Railways and IRCTC, National Payments Corporation of India, LIC and SEBI. Its solutions can improve top-line growth through lead generation and engagement, enhance bottom-line results by automating up to 70% of customer support, and elevate customer experiences through personalization and multi-format capabilities, the company said. It added that their solutions impact over one billion users across over 100 languages and over 20 channels.

CoRover Raises $4 Mn Series A Funding from Venture Catalysts

The creator of BharatGPT, CoRover has secured $4 million in a Series A funding round led by Venture Catalysts. This investment marks a significant step in CoRover's mission to transform human machine interactions and impact over a billion lives globally, while focusing on Indian languages. CoRover's co-founder and CEO, Ankush Sabharwal said that the company aims to advance its generative AI powered platform and BharatGPT, bringing human machine interactions closer to natural human communication. "Our goal is to bridge the gap between technology and human interaction, ensuring our solutions deliver meaningful, efficient, and scalable engagement," said Sabharwal. CoRover's BharatGPT, a sovereign LLM, known for its contextual and culturally relevant AI responses, is already making an impact, with its solutions deployed by Indian Railways, LIC, SEBI, NPCI, and others, supporting more than a billion users across over 100 languages and 20 channels. Founded by Sabharwal, Kunal Bhakhri, and Manav Gandotra, CoRover has rapidly made its mark in the conversational AI industry with its generative AI human centric platform. The company offers a suite of products such as AI chatbots, voicebots, videobots, and WhatsApp bots, designed to provide personalised, conversational experiences across multiple industries including healthcare, e-commerce, finance, and retail. In a statement about the investment, Dr Apoorva Ranjan Sharma, co-founder and managing director of Venture Catalysts, said, "CoRover represents the future of human-machine interaction. Their human-centric Conversational AI aligns perfectly with the growing need for seamless digital engagement. This investment supports our belief in the company's ability to revolutionise customer interactions across industries and geographies." Additionally, CoRover recently joined NVIDIA's Inception program, which helps startups scale faster by providing access to cutting-edge technology, resources, and collaboration opportunities. As part of this program, CoRover plans to enhance its flagship product, BharatGPT, and accelerate the development of its conversational AI offerings. This partnership will support CoRover's expansion into new markets, further strengthening its role in shaping the global Conversational AI landscape.

Chatbot startup CoRover raises $4 million led by Venture Catalysts

CanBank Venture Capital Fund (CVCFL), IIM Calcutta (Innovation Park), IIIT Delhi (iHub Anubhuti IIITD Foundation), Cogniphy LLC, Karekeba Ventures, Lead Angels and others also participated in the round. Multi-stage venture capital firm Venture Catalysts on Tuesday announced leading a $4 million Series A round in CoRover, a conversational AI startup that offers chatbot services to companies in banking, finance, healthcare, manufacturing, travel and e-commerce sectors. The VC said CanBank Venture Capital Fund (CVCFL), IIM Calcutta (Innovation Park), IIIT Delhi (iHub Anubhuti IIITD Foundation), Cogniphy LLC, Karekeba Ventures, Lead Angels and others also participated in the round. Founded by Ankush Sabharwal (CEO), Kunal Bhakhri, and Manav Gandotra, CoRover offers conversational AI chatbots, AI voicebots, AI videobots, IVR bots, and WhatsApp bots. Venture Catalysts said the global Conversational AI market is expected to reach $86.42 billion by 2032. Speaking on the leading the round in CoRover, Apoorva Ranjan Sharma, Co-Founder, and Managing Director of Venture Catalysts said CoRover's innovative approach to creating human-centric Conversational AI aligns perfectly with the growing demand for more natural and effective digital interactions. "We believe their platform has the potential to transform how businesses engage with customers across various industries," he said. The funding will help CoRover to further develop its technology, expand its team of AI experts, and accelerate its go-to-market strategy. The company plans to focus on enhancing its Enterprise (B2G and B2B), B2B2C, and B2C offerings, while also exploring new revenue streams through subscription-based models, ad-based revenue, and transaction-based fees. Some of the company's popular solutions include eSevak (Conversational Citizen Grievances Management), AskDISHA (at Indian Railways & IRCTC), Ask PAi (at NPCI), AskMitra (at LIC), Chetna (at DMRC), and SEVA (at SEBI). "With this investment, we are equipped with the required arsenal to advance our GenAI-powered conversational AI, expanding its reach and influence, all while staying true to our commitment to human-centric innovation. As it is, the platform, products and services from CoRover stand test of acceptance and scale," said Ankush Sabharwal and Kunal Bhakhri, Co-founders, CoRover.

BharatGPT Maker CoRover Raises $4 Mn To Bolster Its GenAI Ops

The company has been profitable for last three years, maintaining consistent profit margin. BharatGPT maker CoRover has secured $4 (around INR 33.4 Cr) Mn in a Series A funding round led by Venture Catalysts to scale its large language model based conversational AI chatbots. Other investors included CanBank Venture Capital Fund (CVCFL), IIM Calcutta (Innovation Park), IIIT Delhi (iHub Anubhuti IIITD Foundation), Cogniphy LLC, Karekeba Ventures, Lead Angels among others. With the latest fundraise CoRover aims to further develop its technology, expand its team of AI experts and accelerate its go-to-market strategy. "We've been profitable for the last three years, maintaining a consistent profit margin, but with a smaller revenue," Ankush Sabharwal, founder and CEO of CoRover, told Inc42. Sabharwal further adds that with the funding round secured, the company's current focus is on scaling. "So far, we've concentrated on platform technology, implementing use cases, and partnering with good clients," said Sabharwal. Sabharwal told Inc42 that the company currently has more than 900 leads, and is struggling to turn the leads into business. According to him, the company didn't even have a dedicated sales team, and that most of the clients came through inbound channels. "Now, we're figuring out how to manage these leads effectively. With this funding, we'll hire more staff to handle these leads without relying heavily on outbound sales. We want to convert deals more quickly and ensure successful implementation," he said. The company also plans to focus on enhancing its Enterprise (B2G and B2B), B2B2C, and B2C offerings. It is also exploring new revenue streams through subscription-based models, ad-based revenue, and transaction-based fees. Founded by Ankush Sabharwal, Kunal Bhakhri, and Manav Gandotra, CoRover is known for its LLM BharatGPT, CoroAssist- a secure Gen AI based copilot for enterprises. The company also has built eSevak (Conversational Citizen Grievances Management), AskDISHA (at Indian Railways & IRCTC), Ask PAi (at NPCI), AskMitra (at LIC), Chetna (at DMRC), and SEVA (at SEBI). While the company is largely known for its partnership with government entities, only 25% of the total revenue comes from the B2G business, the rest coming from the private sector. Speaking on the rising competition in the Indian AI market, with the new entrants like Ola's Krutrim AI, Sabharwal said that there are enough use cases and problems to solve that even with new entrants, we can continue to grow. "The demand for AI solutions is vast, and we still have plenty of room for improvement," said Sabharwal. Earlier this year, Sabharwal said in an Inc42 event that the company shuttered its operations in the US and UK to focus on Indian business.