GenAI startup Vodex raises $2 mn in seed funding round for biz expansion

Vodex helps businesses connect with customers via human-like phone conversations, driving sales and improving customer engagement

Generative Artificial Intelligence (GenAI) startup Vodex announced on Wednesday that it has raised $2 million in a seed funding round from Unicorn India Ventures, and Pentathlon Ventures.

The funds will be used for global expansion and to scale the company’s business to at least fourfold in the coming year.

“This investment is a testament to the immense potential of Generative AI in revolutionising sales. Vodex will invest in building a dedicated and highly trained support team to ensure exceptional customer service,” said Anshul Shrivastava, CEO, Vodex.

“We are confident that by quadrupling our revenue in the near future, Vodex will become the go-to solution for businesses seeking to unlock the power of Gen AI-driven sales,” Shrivastava said.

 

The Software-as-a-Service (SaaS) startup has been providing GenAI-powered calling solutions to businesses in the US and Canada since 2022.

Vodex leverages GenAI to craft voice conversations that mimic human interaction, enhancing outbound sales calls with a more personal and engaging experience, according to the company.

This innovative technology eliminates the need for traditional call centres, enabling businesses to streamline operations, improve efficiency, and connect with customers on a deeper level, the company said in a statement.

Bhaskar Majumdar, Managing Partner, Unicorn India Ventures, said, “GenAI has multiple use cases and more importantly to transform the landscape of tech businesses worldwide. We see disruptive capabilities in Vodex to emerge as a formidable player by applying the power of GenAI and SaaS to help enterprises manage their CRM engagements more efficiently.”

Vodex helps businesses connect with customers through natural-sounding, human-like phone conversations, driving sales and improving customer engagement. It has previously raised a pre-seed round from 100X.VC, and boasts of achieving $1 million in annual run rate (ARR) within a year. 

Unicorn India Ventures is a technology-focused early-stage venture fund that invests capital in emerging startups. It launched its first fund with a corpus of ~100 crore and invested in 17 companies including SmartCoin, Open Bank, Sequretek, Pharmarack, Genrobotics, Clootrack, and FutureCure, among others.

Pentathlon Ventures, an early-stage venture capital fund, focuses on the dynamic B2B SaaS segment within the Indian startup ecosystem.