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.