Agara uses advanced voice AI to process customer support calls in real-time; fresh funds raised to accelerate product development, fresh hiring and market expansion
Abhimanyu, co-founder and CEO of Agara
Founded by Abhimanyu and Arjun Maheswaran in 2017, Agara develops virtual voice agents that leverage proprietary machine learning models to understand intentions in speech, make intelligent decisions to handle queries and talk individual customers through to a resolution. In less than four years, this New York-based venture has six patents (filed in USA) under its belt. The ML/AI-based system patents have been developed by Agara’s team to help its voice agents understand, classify and summarise to language. For instance, one of its patents in ‘Controlled Natural Language Generation’ allows voice agents to create meaningful dialogues without any human intervention.
Abhimanyu, co-founder and CEO of Agara, says: “Whether it is sales calls, phone support or product feedback, voice has been the top choice for companies around the globe. We strive to be pioneer in voice-first world. With the new Covid norms, we expect the demand for virtual voice agents to rise manifold. Last year, we processed over a million calls and a million emails in 12 countries across every continent in 4 languages. With the new surge in demand, we are confident of increasing this number to over 5 million calls.”
Recently, Agara announced a $4.3 million pre-Series A extension round led by UTEC, a Japan-based early stage deep-tech venture capital firm. The round also includes participation from existing investors Blume Ventures and RTP Global. This brings the total funds raised by Agara to $7.5 million and includes bluechip investor Kleiner Perkins.
The funding will be used to accelerate product development, make strategic technology hires and expand into the UK and Australia markets. Agara plans to double its team of data scientists and machine learning experts this year. The company also plans to establish its first pure AI research team at Bengaluru. Agara has been a revenue-generating business since inception and the company now supports some of the largest global enterprises, including FMCG company Procter & Gamble.