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Boxx.ai attracts Unicorn India Ventures’ fund to boost AI technology

Unicorn India Ventures and angel investors have invested $500K in Boxx.ai

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VoicenData Bureau
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MUMBAI: Mumbai-based VC firm Unicorn India Ventures and angel investors including Venky Krishnakumar (Former COO & CFO, Citibank APAC), Suresh Shankar (Founder and CEO, CrayonData) and Vivek Bhargava (CEO, DAN Performance Group) have invested $500K in Boxx.ai, a Bengaluru-based Artificial Intelligence-backed analytics startup. The round has been led by Unicorn India Ventures.

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Boxx.ai builds products that use Artificial Intelligence to solve critical analytics problems quickly and at affordable costs. Archana Priyadarshini, Venture Partner, Unicorn India Ventures will be joining the board and will be working closely with Boxx.ai’s team.

The company plans to utilize the newly raised funds to upgrade its technology and algorithms platforms, and to expand the product portfolio.

Boxx.ai was launched in July 2016 by IIT alumni Ajay Kashyap, Prakhar Raj and Shitiz Bansal. The Founding team comes with over a decade of experience in leadership roles in data science, technology and product development.

AIDA is Boxx.ai’s first product. AIDA’s proprietary algorithms predict what each customer is likely to buy in future, and then deliver personalized customer experiences across all marketing channels (emails, app notifications, browser notifications, Facebook and on the website or app). In Boxx.ai's experience with different clients, this leads to increase of over 40% in sales. AIDA enables Internet companies to provide personalized products (for e-commerce companies), personalized content (for news portals and blogs), improved matchmaking (for matrimonial/dating, job portals) and targeted ads (for publishers with substantial inventory).

Commenting on raising the funds, Ajay Kashyap, Co-founder, Boxx.ai, said, “AIDA is built around its core ‘Individual identities’ philosophy. Every customer is important and different. AIDA’s algorithms find hidden patterns within the data to cater to sparse data, are constantly learning with every new piece of data adding a nuance to the personalization, and are genetically evolving to ensure that the most relevant parameters are selected in every scenario. All of this is to ensure that marketers can reach out to each and every individual customer with an unprecedented level of personalization.”

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