PE-VC Fund Investments
CRM s’ware maker Cheerio AI raises Rs 8-Cr in seed round led by Artha Venture Fund
Bengaluru-based Cheerio AI has raised INR 8 Cr in a seed funding round led by Artha Venture Fund, through its Artha Venture Fund II. The round also included participation from Hyderabad Angels, TiE Angels, LetsVenture, Invention Engine, and several angel investors.Founded in 2021 by Nishant Das, Avinash, and Priam, Cheerio AI is an AI-powered customer engagement platform designed to optimize the customer acquisition cost (CAC) to lifetime value (LTV) ratio for enterprises. The platform integrates marketing, support, and sales workflows across channels such as WhatsApp, email, SMS, social messaging, and in-app communication.The company plans to use the new funds to develop multi-modal AI capabilities, including a proprietary small-model LLM for ad generation, expand into voice and video channels, and strengthen automation features and enterprise-grade infrastructure. Cheerio AI also intends to hire across engineering, AI, enterprise sales, and customer success over the next six months as it prepares for global expansion.
For FY24, Cheerio had reported about INR 0.45 Cr in Operating Income and about INR 0.63 Cr in Net Loss.
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