Gnani.ai Secures $4 Million in Series A Funding to Fuel Growth and Expansion

Gnani.ai, a voice-first generative AI company, announced that it has secured an investment of $4 million from InfoEdge Ventures in a Series A round. The capital from the fund-raise will be used for sales growth and expansion of Gnani.ai’s business across geographies. Samsung Ventures is an investor in the company. 

Ganesh Gopalan and Ananth Nagaraj launched Gnani.ai in 2016 following years of experience growing software companies at Texas Instruments, IBM, and Aricent. The founders said, “Gnani.ai’s generative AI-powered voice automation platform has helped financial institutions collect over $2B from their end customers in the last six months. Our proprietary AI platform has helped us grow exponentially in the last few years and secure 100+ enterprise customers in India and the US. This investment will significantly bolster our efforts to expand our sales footprint." 

Chinmaya Sharma, Partner at Info Edge Ventures, said, "We like to invest in founders who are building to solve a problem and not just to find a use case for AI. Gnani.ai was doing what it was doing before AI became talk of the town. We like AI as an afterthought!" 

Gnani.ai provides a voice-first, no-code platform with product capabilities, such as voice biometrics, agent assistance, omnichannel analytics, and omnichannel conversational automation. It features a patented, in-house tech stack for augmented intelligence, TTS, STT, and NLP that is compatible with 14 Indian languages in addition to English. 

There has been a surge in AI start-ups in the country. Some of the AI start-ups in the country are Arya.ai, Krutrim AI, Sarvam AI, Neysa Network, and others. An interesting trend observed in AI start-ups is the integration of local language models in their AI models. 

However, when it comes to funding, there has been a fall in funding by 91 percent to $8.2 million in the April-June quarter. Speaking to the Economic Times, Tracxn co-founder Neha Singh said, “The decline in funding can be primarily attributed to the highly volatile market due to geopolitical tensions (and) rising interest rates, among others. We expect this sector to grow in the near future once market conditions stabilize."