Indian AI startup Uniphore raising $38m Series C led by March Capital

Photo: Hitesh Choudhary/Unsplash

Chennai-based Uniphore Software Systems Ltd is raising $38 million in a Series C funding round led by California-based venture capital firm March Capital Partners.

Also participating in the round are National Grid Partners, Sistema Asia Fund, IntuitiveVC, The CXO Fund, Patni Wealth Advisors, and existing investor Chiratae Ventures, according to the company’s filings with the Registrar of Companies (RoC) sourced by paper.vc.

About $37.9 million of the proposed $38 million has already been raised, it said.

The current funding comes 20 months after Uniphore last raised capital.

In October 2017, Uniphore had raised an undisclosed amount in Series B round, which saw the participation of most existing investors, including IDG Ventures. The round also saw participation from John Chambers, chairman of USISPF and executive chairman of Cisco, who made the investment in his personal capacity.

Earlier, it had secured angel funding from a group of investors including Nagaraja Prakasam, M.V Subramanian, Ray Stata, and Yournest Angel Fund.

According to Crunchbase, Uniphore has raised $15.8 million in funding so far.

Founded in 2008 by Umesh Sachdev and Ravi Saraogi, Uniphore is a global conversational artificial intelligence technology company that enables businesses to deliver transformational customer service across touchpoints. The company also has offices in the U.S. and Singapore.

Meanwhile, Santa Monica-based March Capital announced the close of its second fund at $300 million this January. In a statement then, the firm said Fund II continues to build on the success of its inaugural $240-million vehicle, which invested in both early and late-stage companies in mobile, enterprise, infrastructure, gaming, and other growth industries.

In India, its investments include online auto classifieds platform CarTrade.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.