Artificial Intelligence enabled chatbot provider, Triliyo has raised $250,000 in an investment round led by Startup buddy. The round also saw participation from Pulse Venture Capital, private equity professional Amit manocha and a few HNIs. The company said that it’ll be using the investment to scale-up operations in India and Southeast Asia.
Founded by Abhishek Moharana and Gaurav Gambhir in 2015, the startup provides SaaS based solutions to business-to-business (B2B) ecommerce clients dealing in the hospitality sector. It offers both voice and chat based solutions. The company is owned and operated by Prontus Technologies .
Abhishek Moharana has previously worked with PwC and L&T infrastructure, while Gaurav Gambhir has been with EY, Bank of America and TCS in the past. Famous cricketer Yuvraj Singh joined the board of Startup Buddy last year, as his investment firm, YouWeCan, had invested in the same.
Commenting on the technology aspect of Triliyo, Abhishek said, “We’re creating the next level of customer experience in hotels. Our voice-based concierge service using [smart assistant] Amazon Echo is the first in hotels”.
The company claims to have over 150 clients in Bengaluru, Delhi and Mumbai in India, and overseas customers in Bangkok and Canada.
According to a recent report published by Global Market Insights, the Intelligent Virtual Assistant Market is predicted to cross the mark of $11 billion by 2024. The biggest factor driving the growth in the virtual assistant market is the growing focus on customer engagement and user experience. Today, companies need VAs deployed in their websites, social media channels to constantly drive engagement.
The report further added that the speech recognition market is expected to grow at a CAGR over 37 percent from 2016 to 2024. This increase will be driven by the high demand of the technology across medical and automotive applications. While the Intelligent virtual assistant market share is expected to grow at a CAGR of 35 percent over the forecast line.