Tata Sons chairman emeritus Ratan Tata and Unilazer Ventures founder Ronnie Screwvala has invested an undisclosed amount in artificial intelligence-powered chat app Niki.ai.
The company said it would use the funds to strengthen its technology and increase the base of partner businesses.
Sachin Jaiswal, chief executive officer of Niki.ai, said, “It’s a proud moment for the company to have an investment from Tata and for Unilazer to do a follow-on round. With the continued support from our investors, we now want to expand aggressively across categories.”
Niki uses the method of natural language processing, which enables machines to understand human language inputs, and machine learning, wherein the machine self-learns with increasing data to converse with the customers over a chat interface and helps them to place various orders.
Working on a channel partnership model, the company generates revenue for every order processed on its platform. Nikki.ai is also working with brands to provide them chatbots, robots that can have meaningful conversations, for their use in case and application.
Currently, Niki offers bill payments, cab booking, recharge, food ordering and cricket scores. It will soon offer laundry services, bus booking, hotel booking, event ticketing and doctor appointments. The company had earlier raised a seed round from Unilazer Ventures.
