Start-Ups

Gupshup, a conversational messaging platform, has paid full cash for Active.Ai, a conversational AI business. The financial information was kept under wraps. Gupshup, which provides businesses with conversational messaging services, expects the purchase to boost its customer experience solutions for banking, financial services, and insurance (BFSI) clients. Active is a Singapore-based company. Ai supports BFSI customers in 43 countries, including Axis Bank, Kotak Mahindra Bank, Tata Capital, and IndusInd Bank. The company claims to have facilitated more than 300 million audio, video, and messaging interactions. Gupsshup has made three acquisitions…

PlayVerse, a technology-enabled entertainment firm, has raised $1.5 million in a funding round led by Akatsuki Inc., a Japanese gaming company. In India, PlayVerse sells content, toys, games, and technology. PlayVerse will now attempt to maximise the monetisation potential of popular Japanese IPs and brands in India in order to increase cross-border cooperation between India and Japan. “Thanks to the advent of blockchain technology and the scalability offered by promising L2 protocols, we have some moonshot ideas of IP monetisation that we are exploring,” said Jaineel Aga, founder, PlayVerse. “At…

Agrizy, an agritech firm, raised $4 million (about Rs. 30 crore) in a seed round sponsored by Ankur Capital. Omnivore and angel investors Rajesh Yabaji (CEO, BlackBuck), Zetwerk Co-founders Srinath Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary, among others, participated in the round. The cash will be used by the Bengaluru-based startup to expand its business, hire engineers, develop a suite of digital services for the processed agro trade, and increase client growth. “The funds raised will be utilized to build strong business and engineering teams, develop a suite…

Webaroo Inc.’s conversational messaging platform Gupshup has acquired Active.Ai, a conversational AI platform for banks and fintech organisations, and is in talks with possible investors for a pre-IPO investment round of $100 million to $200 million or potentially more, according to a top official. Gupshup co-founder and CEO Beerud Sheth stated the “mid-sized” transaction was largely cash-based. “We wanted Active.founders AI’s and workers to continue,” he said. In the process, several institutional investors have pulled out. Active.ai was founded in 2016 by Ravi Shankar, Shankar Narayanan, and Parikshit Paspulati, with…

Netcore Cloud will begin filing for its Initial Public Offering (IPO) in two months, according to Rajesh Jain, the bootstrapped Software as a Service company’s founder and global managing director. In order to broaden its software products ahead of the IPO in the first quarter of the following calendar year, the company is looking to make numerous acquisitions, including one worth up to $100 million and several smaller ones. For the acquisitions, Jain said the company was focusing on product analytics, customer data platforms, email intelligence, and loyalty. As digital…

Ankur Capital led a $4 million seed round for Bengaluru-based agri-tech start-up Agrizy. Omnivore and angel investors such as Rajesh Yabaji (CEO, BlackBuck) and Zetwerk co-founders Srinath Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary took part in this round. The funds raised will be used to grow strong business and engineering teams, develop a suite of digital services for the processed agro industry, and increase customer traction in specific value chains across India. The funds will be used to expand the product and speed up business in specific value…

Bombay Play, a hyper-social gaming platform, has secured $7 million in a round headed by Kalaari Capital. Lumikai Fund, Leo Capital and PlayCo, AdvantEdge VC, and AMEA Ventures all participated in the round, as did online gaming platform Winzo. The fresh funds will be used to expand the company’s existing “hyper-social” game offerings, support prospective ventures, and allocate cash to product development. The Bengaluru-based startup, founded in 2018 by Oliver Jones and Abhas Saroha, employs 50 individuals. By the end of 2023, it intends to double its workforce. Bombay Play…