Angel Investments
Loyalty & rewards platform Almonds Ai raises Rs.16-Cr from Haldiram’s promoters, JIIF, others
Gurugram-based channel loyalty and rewards platform Almonds Ai has raised INR 16 crore (around USD 1.9 million) in a seed funding round led by promoters of Haldiram’s and JITO Incubation and Innovation Foundation (JIIF). The round also saw participation from Venture Catalysts, Ever Grow Capital, Nine ALPS, and other investors such as Hemant Jain and Nitin Jain (co-founder, OfBusiness). The fresh funds will be used to accelerate the firm's research and development (R&D) initiatives, expand the team, and enhance product offerings.Founded in 2020 by Abhinav Jain and Apurv Modi, Almonds Ai offers a platform that helps brands educate, engage, and reward their distribution networks. The company claims to have 100 distribution-led organizations and a network of six million channel partners, including retailers, dealers, and professionals such as drivers, painters, and mechanics.
In Nov 2021, Almonds Ai had raised about USD 0.50 M from Hexa Global Ventures.For FY24, Almonds Ai had reported about INR 25.88 Cr in Operating Income and about INR 3.30 Cr in PAT.
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