Funding Success for AI Startups by Invention Engine
Invention Engine, an accelerator focused on early-stage AI and deep tech, has revealed that four of its portfolio companies—Sonic Lamb, Cheerio AI, Desible.ai, and Magicroll—have collectively secured roughly $2.5 million in a recent funding round.
Sonic Lamb’s Global Expansion
Sonic Lamb, a deep tech startup highlighted on Shark Tank, has successfully raised about $1 million to enhance its unique, India-designed headphones on an international scale. These funds will be directed towards broadening the consumer brand’s visibility and improving its core technology and intellectual property for growth in automotive and pro-audio sound applications.
Cheerio AI’s No-Code Marketing Innovation
Cheerio AI, a no-code AI marketing automation platform, has achieved nearly $1 million in funding. This platform offers an AI-driven, comprehensive customer engagement and customer lifetime value solution, asserting itself as a trusted partner for over 150 businesses across six different sectors. Cheerio AI has generated more than 500 crore in extra revenue for its clients through its smart retention automation. The investment will facilitate the development of multi-modal AI capabilities.
Desible.ai’s Conversational Infrastructure
Desible.ai, designed to provide enterprise-grade conversational infrastructure for revenue, compliance, and service workflows within BFSI, has raised $250K. The platform is set to create the next generation of AI-powered voice agents that are intelligent, multilingual, and empathetic.
Magicroll’s Video Editing Solutions
Magicroll, an innovative AI-driven video editing tool, has secured $100K in funding. The platform excels at transforming unrefined content into captivating short-format videos, keeping the user’s narrative and style central while ensuring high contextualisation and personalisation. Funds will be allocated to market entry strategies and ongoing product development.
New Opportunities with ACE $100k Cohort
Invention Engine has recently opened applications for its fourth ‘ACE $100k’ cohort, further expanding its early-stage investment initiative in India. The investment amount has increased to $100K (approximately Rs 1 crore) as ‘patient capital’ for each startup. The six-month programme is aimed at supporting 6-8 early-stage companies focused on foundational AI-led innovations.