Kolkata, December 9, 2020: Mihup Communications Pvt. Ltd, a leading conversational AI platform, has raised 1.5 million in an ongoing Series A round. The founding round is led by Accel Partners, Ideaspring Capital, leading investor Rajesh Jain’s firm Core91 VC and Jayant Kadambi (Founder and CEO YuMe Networks). The funding will be used to expand the Mihup team, to build new product capabilities and to enter new markets.
Prior to this round, the startup had secured seed funding and pre-Series A funding from Accel Partners and Ideaspring Capital. Accel has previously invested in companies like Flipkart, Freshwork, Myntra, Musigma, CureFit, Spotify, Facebook, and Dropbox, among others.
Speaking about this, Tapan Barman, CEO and Co-Founder, Mihup, said, “The funding will allow us to push Mihup to greater heights and invest in areas that will be a key to our long-term vision and success, and we are thrilled to have Accel Partners continuing as our investors and welcome Ideaspring Capital as our investor partner. We will soon be launching a new product in the automobile space.”
Sandipan Chattopadhyay, CEO & MD, Xelpmoc Design & Tech, added, “Voice and Video are going to define the next phase of digitization of India. For the next 500 million to be able to embrace and exploit digitization voice is the only option. We have come a long way and this funding will help us to fast forward that advantage.”
The company’s interaction analytics solution provides 100% analysis of a call center’s customer interactions to derive actionable insights to improve sales, collection and customer services. This is an enterprise ready platform for both cloud or on-prem deployments.
Adding further, Subrata Mitra, Partner at Accel, said, “We at Accel found the value proposition of Mihup very promising even at the Seed stage and are excited to see them acquire early customers and get product validation in several segments. Mihup’s voice platform can be a game-changer in addressing the next several 100 Million.”
Naganand Doraswamy, Managing Director and Founder, Ideaspring Capital said, “Voice as a medium is seeing an increasing demand in not only consumer applications but in enterprise applications as well. Advancement in voice recognition and translation technology and the advent of language agnostic internet will drive this trend. For example, the voice recognition system market for automotive and Call Centre is projected to be the fastest growing market in Asia. We are very excited to do a follow-on investment in Mihup and work with Accel again on this investment.”
The brand is using AI to empower humans with the ability to seamlessly interact with the digital world around them. It is built on top of proprietary platform [speech to text engine, Natural language processor, Dialogue Manager, Text to speech] that leads on accuracy in mix languages. Mihup has processed over 100 million customer interactions and is trusted by Fortune 500 companies.
