Cheerio AI Secures Rs 8 Crore in Seed Funding
Cheerio AI is thrilled to announce a successful seed funding round, raising Rs 8 crore, led by Artha Venture Fund through its Artha Venture Fund II. This round also included participation from Hyderabad Angels, TiE Angels, LetsVenture, Invention Engine, and a host of angel investors.
Funding Utilisation
The funds will be utilised to develop multi-modal AI capabilities, including a proprietary small-model LLM for ad generation. There are also plans to extend into voice and video channels, as well as enhance automation features and enterprise-grade infrastructure.
Global Expansion Plans
Cheerio AI is set to make significant hires in engineering, AI, enterprise sales, and customer success within the next six months as part of its preparation for global expansion.
About Cheerio AI
Founded by Nishant Das, Avinash, and Priam, Cheerio AI has developed an AI-driven customer engagement platform that aims to improve the CAC-to-LTV equation for businesses. The platform seamlessly integrates marketing, support, and sales workflows across various channels including WhatsApp, email, SMS, social messaging, and in-app communication.
Current Clientele
The startup caters to over 150 enterprise clients across six different industries, claiming to have generated more than Rs 500 crore in additional revenue for these clients through its retention automation solutions. Cheerio AI has also reported an impressive revenue growth of 450% year-on-year over the last two years.