AI Customer Support Provider LiaPlus AI raises ₹2Cr Funding Led by IPV

AI-driven customer support solutions provider ‘LiaPlus’ AI has raised INR 2 Crore in Seed Round led by Inflection Point Ventures. Other co-investors in the round are Chandigarh Angel Network (CAN) and Growth91. The funds will be used for driving advancements in product and technology, expanding the team, and enhancing sales & marketing strategies.

AI Software & Services market

India is emerging as a global leader in AI, with over 420,000 professionals in AI job functions, and the industry is projected to reach $17 billion by 2027.

The AI Software & Services market, currently valued at around $100 billion, is expected to grow to $300-320 billion in the same timeframe. Conversational AI is also booming, with the global market set to hit $13.9 billion by 2025 at a CAGR of 21.9%.

The global intelligent virtual assistant market is projected to grow at a CAGR of 47.5%, reaching $47.3 billion by 2027. The chatbot and intelligent virtual assistant sector shows strong potential, with a Total Addressable Market (TAM) of $14 billion, Serviceable Available Market (SAM) of $800 million, and Serviceable Obtainable Market (SOM) of $120 million. 

About LiaPlus AI

Lia is an AI Call Assistant for Sales and Customer Support that can execute tasks just like humans. The AI Employees platform provides support in 18 languages, manages millions of calls per hour, and offers 24/7 operation with capabilities for emotional understanding.

With a global presence, LiaPlus AI serves as a marketplace where businesses can seamlessly hire AI-driven sales and customer support employees with just three clicks. LiaPlus AI is pioneering a future where businesses can delegate both short- and long-term tasks to AI employees (robots). Lia is just one of the 100 AI Employees that the team is creating to revolutionize the use of AI in the workforce across the globe.

LiaPlus AI Co-Founders

Shailesh Jaiswal, Co-Founder and CEO of LiaPlus AI, is an MA Postgraduate with a specialization in Organizational Behaviour from the University of Delhi. As an Indian entrepreneur and AI researcher, he has garnered extensive consulting experience with multinational corporations, focusing on prompt engineering and the automation of customer support and sales processes. 

Smridhi Seth, Co-Founder and COO, is also an MA Postgraduate from the University of Delhi, with over five years of experience in data science, R&D and behavioural analysis. She has worked with clients across healthcare, hospitality, and technology sectors to drive AI-driven growth and innovation. She is a distinguished two-time Gold Medallist, honoured by the President of India, with expertise in AI/ML research, data visualization, and client relationship management.

“Many businesses struggle with managing high volumes of customer inquiries, especially across multiple languages and time zones, leading to customer dissatisfaction and lost revenue. LiaPlus addresses these challenges by providing AI-driven customer support in multiple languages across different time zones, thus helping businesses grow," says Vikram Ramasubramanian, Partner, Inflection Point Ventures. 

"IPV is confident in LiaPlus's growth potential and remains committed to supporting the company as it continues to expand," he added.

LiaPlus AI trains its models with high quality data, prompts and engineering to enhance model accuracy and relevance. With a 95% task completion rate, significantly outperforming competitors' 12-20% benchmarks, it demonstrates exceptional efficiency. 

The platform ensures real-time interactions with less than 400 milliseconds of conversational latency and integrates seamlessly with existing B2B systems, facilitating quick adoption. Additionally, LiaPlus AI provides top-tier pricing while maintaining high quality, offering a cost-effective solution.

As of August 2024, LiaPlus AI has established a substantial footprint and formed strategic alliances across India, Africa, the Middle East, and Australia, targeting the BFSI and e-commerce industries. The platform is customized to address regional requirements, providing support in local languages to deliver effective and personalized customer service across these diverse markets. This localized strategy enables it to effectively meet distinct market needs and drive success across various regions.

“LiaPlus AI is not merely a product; it signifies the evolution of customer support solutions. Supported by IPV, CAN and Growth91, we are uniquely positioned to revolutionize the industry. With our innovative approach, we are set to transform how businesses engage with their customers," says, Shailesh Jaiswal, Co-Founder & CEO, LiaPlus AI.

 "Our focus on cutting-edge technology and efficiency will redefine industry standards and set new benchmarks in AI-driven customer service," he added.

"LiaPlus AI isn't just automating calls; we're transforming the way businesses connect with their customers, making every interaction smarter, faster, and more meaningful," mentioned Smridhi Seth, Co-Founder & COO, LiaPlus AI.

LiaPlus AI Milestones

LiaPlus AI has achieved significant milestones, including a ₹30 lakh grant from the Ministry of IT and Electronics, Government of India, and a SAR 150,000 performance-based grant from the Kingdom of Saudi Arabia. 

Featured in Yuvaam - Voice of the Youth Magazine as a top AI startup to watch in 2024, the company was honoured with the Best Pitch award at the ASU+GSV Summit 2024. The founders have been honoured as National Level Research Awardees by the Government of India.