PepSales Secures $1.1 Million in Funding Round Led by Chiratae Ventures

Pepsales raises $1.1 million in a round led by Chiratae Ventures

Pepsales, an AI-powered SaaS platform for sales teams, announced it has raised $1.1 million in pre-seed funding. The round was led by Chiratae Ventures, with participation from angel investors in the Bay Area and founders and CXOs from India's startup ecosystem. Founded by Ajay Singh and Abhinandan Sahgal in 2023, Pepsales leverages artificial intelligence and machine learning to help B2B SaaS companies create personalised product demos that resonate with potential buyers. The firm said the platform aims to address a critical pain point in the sales process, where 80 per cent of demos fail to impress buyers due to their generic, one-size-fits-all approach.

SaaS platform Pepsales raises $1.1 million in funding round led by Chiratae Ventures

Pepsales, a software-as-a-service (SaaS) platform for sales teams, has raised $1.1 million in a funding round led by venture capital firm Chiratae Ventures. The round also saw participation from angel investors. The funds will be used to develop an enterprise-grade AI SaaS platform, expand the market, invest in sales and marketing as well as customer support, and hire talent for product engineering and AI roles. Founded in 2023 by Ajay Singh and Abhinandan Sahgal, the platform utilises AI and machine learning (ML) to assist business-to-business (B2B) SaaS companies in crafting personalised product demos that resonate with potential customers. "The enterprise application software market spends more than $200 billion annually on sales and marketing expenses. This is the market we are catering to, and within it, our software belongs to the demo automation category. There have been a few players in the industry, but the market size is big since it's a new category. We are highly ambitious to ensure that we can build an enterprise-grade product and capture as much market share as possible," Singh told ET in an interaction. The platform, currently operating in beta mode, has 10 customers and aims to double down on the US and India. "Our plan is to reach 25 customers by December, and after that, we will do the public launch," he added. "If you show a demo to Nike which is meant for Nike and not for Mercedes, chances are you can improve your wins by 50%. Our proprietary AI and ML technology automates the process of creating personalised demos, saving sales teams countless hours," said Sahgal. Commenting on the investment, Venkatesh Peddi, managing director at Chiratae Ventures, said, "Pepsales is tackling a critical pain point in the massive B2B tech sales landscape with an innovative, AI-driven approach. Their solution has the potential to transform how companies conduct product demos and close deals. The venture capital firm has backed the likes of Policybazaar, Curefit and Firstcry, Flipkart, Lenskart, Myntra, Pixis, PolicyBazaar and Uniphore, amongst others.

SaaS Startup Pepsales Bags Funding To Facilitate Businesses With Customised Product Demo

Pepsales was launched last year by Ajay Singh and Abhinandan Sahgal to provide assistance to the sellers in generating cloud-based demos in B2B SaaS space SaaS startup Pepsales has secured $1.1 Mn (around INR 9.1 Cr) in a pre-seed funding round led by Chiratae Ventures. The round also saw participation from a host of both domestic and overseas founders and angel investors. The Bengaluru-based startup plans to use the fresh funds to develop software, helping B2B SaaS companies create personalised product demos to cater to a large number of buyers. Pepsales was launched by Ajay Singh and Abhinandan Sahgal in 2023 to offer B2B businesses an alternative to generic product demos by enabling buyers to get live demos in three clicks. Customized cloud-based product demos will make way for businesses to market their products in a personalized manner and in turn enhance buyers' interest in the seller's portfolio. The SaaS startup uses customer data and machine learning to make product demos relevant to the buyers, reducing the time and effort made by sellers to personalize demos as per the requirements of each product. Sahgal said, "Our proprietary AI and ML technology automates the process of creating personalized demos, saving sales teams countless hours." Singh told Inc42 that the demo automation is a fairly new category recognized by the American research and consulting firm, Gartner, last year and there are only a few players in this space in India. The SaaS startup is targeting the domestic and the US market to compete with the likes of Consensus, Folio and Demoboost in the US and Storylane in India. Pepsales is developing its portfolio and altering its offerings based on the feedback of SaaS clients in the targeted key markets. Further, the investment made by Chiratae Ventures will support the SaaS company in scaling its operations and tapping the global market.