AI startup raises US$3 million in seed investment led by Costanoa Ventures

Fri Feb 10, 2017 - 8:35am GMT+0000, a platfrom for authentic conversational commerce, has raised US$3 million in seed investment led by Costanoa Ventures with participation from SV Angel.

Commenting on the investment, Neill Occhiogrosso, a partner at Costanoa Ventures said, “ is building an end-to-end platform that allows businesses to message directly with consumers instantly without having to open a separate app. This will change the way businesses engage with their customers, allowing every interaction to be personalised and one-to-one.”

With the latest proceeds, the California-based company will continue to build out its platform, enabling brands to easily and affordably acquire, engage and transact with consumers through popular messaging apps like Facebook Messenger, WeChat, and iMessage.

Founded in 2016 by Mahi de Silva, Manoj Malhotra, Mark Fruehan, and Arvind Gupta, is an artificial intelligence-powered platform that help brands engage with their clients and drive conversions.

The platform features full lifecycle management and analytics, an AI-powered natural language engine and security features. The company’s team spans Europe, Asia and Latin America. It has made chatbots for Telangana Today,, and others.

De Silva, Malhotra, and Fruehan are also co-founders of AdMarvel, which rebranded as Opera Mediworks, the third largest mobile advertising company in the world. Prior to founding AdMarvel, the team built the messaging and content business at VeriSign.

Built on their success of automating the purchasing and selling of mobile advertising, Botworx’s leadership team is now focused on building a bot creation and management platform. It will allow brands to use their chatbots and messaging services for acquiring customers, as well as customer service and retention.

Speaking on Bortworx, Mahi de Silva, the company’s CEO said, “Chatbot technology is a leapfrog opportunity for brands to elevate ephermal digital marketing campaigns into engaging and long-lived conversations with consumers.”

“Despite all of the technological innovation,” Mahi further adds, “marketing is still done one campaign at a time, where brands have very limited access to audience profile and engagement data. We’re building to give brands greater power to acquire customers, engage them with content and monetise the engagement.”

By Vivian Foo, Unicorn Media