Sales and planning solutions startup Racetrack.ai raises pre-Series A funding

Racetrack.ai, an artificial intelligence startup offering sales and planning solutions, has raised $5 million (Rs 34.3 crore) in a pre-Series A round from Murali Krishna, ex-president and founding member, Biocon; Dov Kagan, a US-based investor; and others, a press release said.

The round also saw participation from a few others from Singapore and Mauritius as well as existing investors.

With the fresh funds, the company plans to venture into new markets and business verticals, it said in a press statement.

Subrat Parida, founder and chief executive of Racetrack.ai, said the firm is preparing to launch its overseas operation bases in the US, Mauritius and Singapore soon.

“This move will help us delve into newer business verticals like retail, banking and healthcare. This boost in our physical presence will open new doors for us to partner intercontinental brands and decision-makers while helping us to create global footprint in the artificial intelligence industry,” Parida said.

Racetrack offers two flagship products – Marvin and Turing. Marvin is a smart bot for sales and support, and Turing helps in business planning and execution.

The startup focuses on business verticals like BFSI (banking, financial services and insurance), education, healthcare, hospitality, and real estate.

The startup’s products help businesses to analyse consumer requirements and sentiments, suggest solutions and aid smooth on-boarding of users.

Other deals in the space

A number of startups offering sales solutions and customer management platforms have attracted interest.

In July, artificial intelligence-based sales acceleration software platform 19th Mile recently raised $180,000 (Rs 1.2 crore) in angel investment from rich people.

In June, Frontdesk AI, an artificial intelligence startup which offers automated customer service software, raised $1.1 million (Rs 7.54 crore) in a seed round led by Bengaluru-based early-stage investment firm Speciale Invest.

In June, DigiConnectt, an artificial intelligence startup that offers sales analytics and enablement solutions, raised $125,000 (Rs 83.75 lakh) in a seed round from US-based transport management solutions company Aspire Logistics LLC.

In April, Hyderabad-based Krisam Software Pvt. Ltd, which operates sales-tech startup Hyperdata.IO, raised Rs 50 lakh ($75,000) from Singapore-based CCube Angels Network.

In March, ZineOne Inc., an artificial intelligence-powered customer engagement platform, raised $2.5 million (Rs 16 crore) in a Series A round led by social-impact investor Omidyar Network.