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SaaS platform “Active AI” raises $3M Series A funding from IDG Ventures India & Kalaari Capital

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Active AI is an artificial Intelligence based SaaS platform for financial services

Bengaluru – Nov 14, 2016. RedNewswire/-

Bengaluru-based Active.ai is run by Active Intelligence Pvt. Ltd, is a platform that enables financial institutions like banks, wealth managers and asset managers to deliver services and engage customers using AI

It has raised $3M fresh funding in series A funding round from IDG Ventures IndiaKalaari Capital. The funds will be used to improve the technology behind its platform and to gain more customers from Asia and north America, also looking to expand its offshore development centre in Bengaluru.

The company was founded in 2016 by Ravi Shankar, Shanakr Narayanan and Parikshit Paspulati and raised $500K seed funding from Kstart in May 2016.

 Shankar Narayanan, Chief Operating Officer, Active.ai, said..

“Active.ai is helping banks redefine their digital strategy for the future, bringing in automation and intelligent customer engagement to banking and payments. The company’s intelligent and built for banking technology uses advanced Natural Language Processing and machine intelligence to enable customers to have natural dialogues over messaging, voice or IoT devices.”

Bala Srinivasa, partner, Kalaari Capital, said…

“Messaging based mobile banking has become a strategic imperative for banks globally to enhance consumer experience and lower customer engagement costs. Active.ai is poised to tap into this large market opportunity with its chat and AI powered mobile customer engagement solution.”

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