Generative AI (GenAI) company Vodex has secured $2 million in a seed round from Unicorn India Ventures and Pentathlon Ventures. The company said the funds will be used for its global expansion plans, saying it will scale its business by “at least” four-fold within the next year.
This latest funding round follows Vodex’s earlier success in raising $320,000 in a pre-seed round led by 100X.VC in July 2023.
Established in 2022, Vodex specializes in AI-powered calling software, mainly for businesses in the USA and Canada. The company said that it has made a $1 million annual recurring revenue within just a year, demonstrating its rapid growth and market potential.
“This investment is a testament to the immense potential of generative AI in revolutionising sales,” said Anshul Shrivastava, chief executive officer of Vodex. “Vodex will invest in building a dedicated and highly-trained support team to ensure exceptional customer service,” he added.
Vodex offers medium to large enterprises sales solutions by using GenAI. Their software makes phone calls that sound like real people, thereby enhancing sales calls with a more personal and engaging experience. This technology eliminates the need for traditional call centers, enabling businesses to streamline operations and enhance efficiency.
“We see disruptive capabilities in Vodex to emerge as a formidable player by applying the power of Gen AI and SaaS to help enterprises manage their CRM engagements more efficiently,” said Bhaskar Majumdar, managing partner at Unicorn India Ventures.
Kumar Saurav, chief technology officer at Vodex, expressed excitement about the company’s next chapter, saying, “Vodex offers businesses a powerful tool to expand their reach, qualify leads and close deals with unprecedented speed and scale, all while delivering a natural and engaging customer experience.”
