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AI Startup Argoid Secures $1.7 Million in Seed Funding from YourNest

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AI startup, Argoid, has raised $1.7 million in seed funding round led by early stage fund, YourNest Venture Capital. Turbostart and TeamLaunchpad.vc, a venture capital affiliate of Rock Mountain Capital and Catch NYC also participated in the round.

Founded in 2019, Argoid provides personalized recommendations to customers of a business using artificial intelligence. Founded by former Flipkart executives Soundararajan Velu, Gokul Muralidharan and Chackaravarthy E, the startup helps clients with challenges pertaining to customer predictions, churn prevention, campaign effectiveness, intelligent recommendations, cross-sell & upsell, engagement process automation and fraud prevention.

“One of the key differentiators of Amazon, Netflix, and TikTok is their ability to predict consumer behaviour through advanced AI and hyper-personalized consumer experiences," said Argoid CEO and Co-founder Gokul Muralidharan. "Hence, they have been able to set the gold standard in terms of conversion and retention rates; most media companies, digital commerce companies, etc. in the world struggle in this area.”

Argoid’s Autonomous Consumer Insights platform empowers organizations to achieve next-level effectiveness in direct consumer engagement. It automates the data science of customer predictions with exceptional accuracy and great economy using autonomous deep-learning neural networks executing in real-time at petabyte scale.

The Silicon Valley and Bengaluru-based firm will utilize the fresh capital towards further building on its technology to sustain the product leadership positioning and increase its customer base and satisfaction, said a statement.