Hotify aims to raise series A funding in the US in mid-2018
Making inroads in the USA through partnerships with DDB Mudra and RAP Ventures
In talks with leading enterprises of USA in Retail, Automotive, Manufacturing and BFSI Sector
Bangalore, December 20, 2017:
Hotify AI, Bangalore based Artificial Intelligence Platform and Solutions company is gearing up to launch its US operations in early January 2018. Hotify AI, leveraging its Cognitive AI Platform has been on a mission to make AI work for all local and global enterprises. Over the past 12 months, Hotify AI has been providing value to several companies in Retail, Digital Marketing, Banking, Insurance, Technology, financial services, CIO services, Customer Service and Manufacturing domains.
Potential contribution of AI to global economy is estimated to be over $15+ Trillion by 2030 and give 14.5% ($3.7 Trillion) GDP boost to North America. Hence, with a goal of serving the North American market and to gain a strong market presence, Hotify AI has been making in-roads through the partnership with DDB Mudra and RAP Ventures in creating a robust partner ecosystem as well as acquiring enterprise customers in the USA. Over past one year, Hotify has evolved partnerships in east and west coast, with active conversations with some of theleadingenterprisesofUSAinRetail, Automotive, and BFSI Sector.In order to accelerate its USA penetration.Hotify AI is registering a US entity and setting up operations in Silicon Valley starting in January 2018.
“With the North American market geared for the large-scale adoption of AI and deep learning solutions across multiple verticals and a well-defined list of use cases, the thought leadership of Hotify AI is keen to enable enterprises and help in the success of the ecosystem” felt Preethi Narayanan, President AI Services for Hotify. “As we build out our operational strength across the North American market, our strategy and value the proposition are resonating well with our early customers and partners in North America”, added Preethi.
Hotify AI’s “Cognitive Intelligence Platform”, provides an out-of-the-box ready-to-use AI backend, designed to accelerate development of intelligent systems and increase AI adoption. Hotify AI also offers AI advisory, consulting and solution services and can help co-create innovation labs and partnerships for enterprises to implement agile solutions and improve the speed to market. Hotify AI is committed to making the necessary investments into the US operations and is preparing for an exponential growth starting in 2018.
Hotify is also likely to raise its next round of investment in US, on which Hotify’s Co-Founder and COO, K Ramesh Kumar (KRK), commented “Hotify AI’s mission of powering enterprise AI via a cognitive intelligence platform and its partner ecosystem driven-approach is better understood and supported by the NorthAmerican investment community”. KRK is also a Silicon Valley veteran now temporarily residing in India. He further opined that having a physical and operational presence in the heart of Silicon Valley will position Hotify AI for a significant funding support when it seeks Series A funding in mid-2018.