AI-based chatbot startup Kenyt Technologies raises seed funding of $250K
AI-powered customer engagement platform startup Kenyt Technologies has raised seed funding of $250,000 from Rajasthan Angels Network and SucSeed Venture partners.
Founded by Kanwaljeet Singla and Peeyush Kulshrestha last year, Kenyt helps real estate companies increase sales through its customer engagement platform powered by artificial intelligence that works like a chat bot.
It has developed an AI-powered Domain Expert (AiDE) to try and engage potential customers on the developer’s website and social media. This virtual sales assistant tries to understand customer’s requirements, answers their queries, showcases the USPs of the project and eventually gets their contact details.
Based out of Hyderabad’s T-Hub, Kenyt claims to have added 45 customers in the last three months and aims to reach 250 customers by next year. It counts reputed builders such as Shobha builders, Wadhwa Group, Pheonix Group, Manbhum, Botanica developers as its clients.
Kenyt wants to use the funds acquired to enter two international markets. While its next stop will be Singapore, it will next launch either in UK or US.
“We will also use funds to expand into any two new verticals. We are currently looking at the hotel, shopping and hospital space. We are also hiring across segments. Both Rajasthan Angels and SucSeed are reputed investors and will be bringing a lot of experience on board. SucSeed has good experience in marketing, finance and product development and we will be able to take their guidance for the same,” Kanwaljeet said.
Both investors will be joining the board of Kenyt.
“The ease of implementation of KENYT, the ease with which they remember the context in which the chat is happening and ability to resolve ambiguity by clearly understanding what the user wants sets KENYT apart. Real Estate sector has shown great interest in them so far and now other sectors are targeted as well. We feel KENYT product is comparable with dialogflow, Watson and couple of others, which Indian companies are using but find them on the expensive side,” said Vikrant Varshney, Managing Partner, SucSEED Venture Partners.
“One of the investor also became customer during the deal process. It took about 2 weeks of effort from both ends to implement their chat bots in the edtech space and it was a new use case, with fantastic results,” Vikrant adds.