● Vodex has achieved $1 million in ARR within a year.
● Funds raised to be used for global expansion and to build a team for scaling the business 4X
● Vodex serves GenAI led sales solutions for medium and large enterprises primarily in North America
● SaaS offering of Vodex generates human-like voice conversations empowering businesses to accelerate their sales cycles
Mumbai/Bengaluru, 3rd April 2024: Vodex, a pioneering GenAI company, today announced that it has raised $2 million in a seed round from Unicorn India Ventures, and Pentathlon Ventures. Vodex has already achieved a remarkable $1 million ARR in less than a year.
Since 2022, Vodex has empowered businesses worldwide, with calling needs in the USA and Canada regions, with their proprietary Gen AI-powered outbound voice calling solution. Co-founded by Anshul Shrivastava, CEO, and Kumar Saurav, CTO, Vodex leverages their cutting-edge Generative AI solution to craft voice conversations that closely mimic human interaction, enhancing outbound sales calls with a more personal and engaging experience. This innovative technology eliminates the need for traditional call centers, enabling businesses to streamline operations, improve efficiency, and connect with customers on a deeper level.
Bhaskar Majumdar, Managing Partner, Unicorn India Ventures, says, “GenAI has multiple use cases and more importantly to transform the landscape of tech businesses worldwide. We see disruptive capabilities in Vodex to emerge as a formidable player by applying the power of GenAI and SaaS to help enterprises manage their CRM engagements more efficiently.”
The funds raised will be used for global expansion. The company plans to scale their business to at least 4x in the next one year.
Commenting on capital infusion, Anshul Shrivastava, CEO, Vodex, says, “This investment is a testament to the immense potential of Generative AI in revolutionizing sales. Vodex will invest in building a dedicated and highly trained support team to ensure exceptional customer service. We are confident that by quadrupling our revenue in the near future, Vodex will become the go-to solution for businesses seeking to unlock the power of Gen AI-driven sales.”
Kumar Saurav, CTO, adds, “Vodex offers businesses a powerful tool to expand their reach, qualify leads, and close deals with unprecedented speed and scale, all while delivering a natural and engaging customer experience. We are incredibly excited for this next chapter and the positive impact Vodex will have on the business landscape worldwide.”
Vodex’s journey has been marked by perseverance and a commitment to innovation. The company has overcome challenges and emerged as a leader in the Gen AI-powered sales space.
Powered with technological advancements and continuous fusion of new AI based changes Vodex continues to be the leader in their Gen AI technology, ensuring its AI “salesperson” is even more sophisticated, impactful, and future ready. Vodex has previously raised a pre-seed round from 100X.VC.
About Vodex:
Vodex is on a mission to build Generative AI powered virtual sales agents which can engage in human-like conversations and automate end to end sales processes. The company’s innovative technology enables businesses to connect with customers through natural-sounding, human-like phone conversations, driving sales and improving customer engagement. Vodex is committed to empowering businesses with innovative AI solutions that revolutionize business sales.
About Unicorn India Ventures:
Started in 2016 by Bhaskar Majumdar and Anil Joshi, Unicorn India Ventures is a technology focused early-stage venture fund that invests capital in emerging and visionary startups. Unicorn India Ventures launched its first fund with a corpus of Rs 100 crore From its first Fund, UIV has invested in 17 companies like SmartCoin, Open Bank, Sequretek, Pharmarack, Genrobotics, Clootrack, FutureCure to mention some. The Internal Rate of Return (IRR) was more than 60 percent year over year. The Fund has emerged as the best performing early stage fund in India with the stellar exits provided by the fund to its LPs.
Fund II is a Rs 300 crore fund launched in 2020 that has invested in 20 companies so far like Gamerji, ForeignAdmits, Probus, Daalchini, Esmito, Finin. Most of the portfolio is scaling up fast and has had several uprounds.
Unicorn India Ventures has recently announced its first close of Rs 1000 crore Fund III. The first close reached at Rs 225 crore. With this Fund, UIV aims to build a portfolio of 25 startups that are focused on global SaaS and digital platforms. From the sector’s perspective, the Fund is looking at newer sectors of climate tech, agritech, spacetech and the semiconductor ecosystem.
