Staff engagement platform inFeedo gets $150K from Redcliffe Capital and former Google execs
Employee engagement platform inFeedo has raised $150,000 (Rs 1 crore) in angel funding led by Dheeraj Jain, managing partner at UK-based hedge fund Redcliffe Capital, and Palash Jain, former head of Google India's core operations.
The firm will use the funds to enter international markets and hire talent to develop its chatbot Amber, the company said in a statement.
Launched in 2014, inFeedo provides small and medium-sized firms an idea-generation platform to resolve managerial issues. Till date, the firm has signed up 14 clients including MakeMyTrip, Lava Mobile, Knowlarity, RedBus and Nearbuy.
The company launched its proprietary artificial intelligence (AI) chatbot Amber last month. The AI chatbot interacts with employees at specific intervals in their lifecycle and auto-generates culture reports for HR leaders in order to ensure employee retention. inFeedo has managed to get on board seven clients for the Amber chatbot. It charges companies on a per-user, per-month basis for each product.
By the end of the year, the firm aims to attract more than 10,000 paid users to its platform and is looking to partner with B2B HR companies.
"inFeedo is the next disruption, having aligned itself perfectly with the global shift towards people management. We have heard stellar feedback from their clients on how they have arrested attrition and helped boost employee productivity," said Dheeraj Jain.
inFeedo was founded by Tanmaya Jain and Varun Puri, both computer science graduates from Shiv Nadar University. While Jain oversees the startup's operations, Puri heads the product team and serves as partner at the firm.
Startups offering chatbot services span e-commerce and fashion. Among the many that have recently received funding are Mezi, which operates an AI-powered shopping app and raised $9 million in Series A funding from Saama Capital, American Express Ventures and existing investor Nexus Venture Partners in July.
AI startups Staqu, Snapshopr and Niki.ai are among the other tech ventures that use chatbots for various purposes and have raised funding from investors including the Indian Angel Network, redBus founder Phanindra Sama and Tata Sons chairman emeritus Ratan Tata.
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