CoRover Raises $4 Million In Series A Funding Round Led By Venture Catalysts
CoRover plans to use the funds to further expand the size of its artificial intelligence team, boost its go-to-market efforts, as well as enhance its existing offerings.
CoRover, a startup building a large language model and conversational AI chatbots, has raised $4 million in a Series A funding round, led by Venture Catalysts.
Other key investors include CanBank Venture Capital Fund, IIM Calcutta Innovation Park, and IIIT Delhi's iHub Anubhuti Foundation, Cogniphy, Karekeba Ventures, Lead Angels, among others.
CoRover plans to use the funds to further expand the size of its artificial intelligence team, boost its go-to-market efforts, as well as enhance its existing offerings, which include business-to-government, business-to-business and business-to-customer products. Additionally, the company is exploring how to monetise through subscription-based models, ad-based revenue, and transaction-based fees.
"With this backing, we are equipped to scale our GenAI-powered platform, bringing human-centric conversational AI to more businesses and industries, and transforming the way humans interact with machines," CoRover Chief Executive Officer and Founder Ankush Sabharwal told NDTV Profit.
The Bengaluru-based startup built BharatGPT, one of the few multi-format large language models built in India. The LLM currently supports over 120 languages.
Founded by Sabharwal, Kunal Bhakhri, and Manav Gandotra, CoRover has mostly found a clientele in state and central government entities.
It has built chatbots for the Indian Railways and the IRCTC, Life Insurance Corp. of India, the Securities Exchange Bureau of India, and the Delhi Metro Rail Corp. It also has a generative AI-enabled copilot platform for enterprises called CoroAssist.
