Rumik.ai: Conversational AI Platform Secures New Funding

Rumik.ai, a prominent conversational AI platform, is gearing up for a new funding round led by Elevation Capital, with backing from existing investors, according to sources familiar with the situation.

Recently, Rumik successfully acquired $1.5 million from Info Edge, and now Elevation is spearheading another round, aiming for an investment of $5 million.

Additional sources have mentioned that Huddle Ventures and Info Edge provided funding in April and are poised to participate in this upcoming round as well.

About Rumik AI

Founded in April 2024, Rumik AI is dedicated to delivering its conversational AI platform to businesses. The company has engineered Ira, an AI system designed to analyse emotions, comprehend user intent, and interact in various languages, including Hinglish, Bangla, and Marathi.

Rumik.ai asserts that Ira exceeds traditional data processing. It cultivates memories and experiences to foster a layer of intelligence akin to human understanding, thus striving to eliminate the disparity between robotic answers and authentic comprehension.

Funding Details

According to one anonymous source, “The term sheet is signed, and funds are expected to transfer shortly.” This source further remarked that, considering the growing investor interest in the fields of conversational AI and speech recognition, Rumik.ai is potentially aiming for a valuation of approximately $25–30 million.

Efforts to reach out to Elevation, Rumik, Info Edge, and Huddle for comments were met with silence by the time of publication.

Recent Investor Activity

In the previous month, Elevation Capital led a $6 million seed funding round in the Agentic AI startup, Adopt AI, which also showcases a conversational AI interface capable of executing tasks through natural language processing. Notably, in December 2024, Elevation Capital welcomed former Meta executive Krishna Mehra as a partner to oversee investments in software-as-a-service (SaaS) and AI sectors.