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AI-powered platform for e-commerce customer engagement BiteSpeed raises $3.5 million

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  • Funding Success: BiteSpeed has raised $3.5 million in a pre-Series A funding round led by Peak XV’s Surge, bringing its total funding to $5.6 million.

  • Global Expansion Plans: The funds will be used to scale operations and enhance product offerings globally, with a focus on hiring in marketing, sales, and technical teams across key regions like North America, Europe, the Middle East, and Southeast Asia.

  • AI Development Focus: BiteSpeed aims to improve its platform’s capabilities by investing in research and development in generative AI, enhancing customer engagement tools for e-commerce brands.

  • E-commerce Engagement Platform: Founded in 2019, BiteSpeed provides an AI-driven customer operating system for e-commerce brands, boasting over 2,500 Shopify clients in more than 50 countries.

  • Revenue Impact: The platform claims that its AI tools can drive over 25% additional revenue for brands by facilitating communication across various channels such as WhatsApp, Email, and SMS.

BiteSpeed, an artificial intelligence (AI) platform for e-commerce customer engagement, has raised $3.5 million in a pre-Series A funding round led by Peak XV’s Surge.

The round also saw participation from Whiteboard Capital, Unacademy CEO Gaurav Munjal, Bella Vita CEO Aakash Anand, and META APAC Head Dhruv Vohra, among others.

This funding brings the startup’s total capital raised to $5.6 million, following two previous rounds of $2.1 million led by Peak XV’s Surge and Whiteboard Capital. 

With the latest capital, it plans to scale operations and enhance its product offerings globally.

Expansion and AI development goals

The new funding will drive BiteSpeed’s global expansion, with a focus on hiring across its marketing, sales, and technical departments. Key growth regions include North America, Europe, the Middle East, and Southeast Asia.

In addition to expanding its team, the startup aims to deepen its research and development in generative AI, a branch of AI known for creating unique content, to enhance its platform’s capabilities for e-commerce brands. 

“This new funding round gives us the necessary ammunition to empower e-commerce brands with an AI-native marketing, support, and chatbots suite that unifies their customer engagement while driving over 25 percent owned revenue growth,” said Vinayak Aggarwal, BiteSpeed’s founder and CEO. 

Revolutionizing e-commerce customer engagement

Founded in 2019 by Aggarwal, BiteSpeed has developed a powerful customer OS (operating system) for e-commerce brands, specifically those using Shopify.

The platform’s AI tools support customer communication across channels like WhatsApp, Email, SMS, Instagram, and Push Notifications.

BiteSpeed’s solution, which also features a customer data platform for tailored engagement, claims to drive over 25% additional revenue for brands.

With over 2,500 Shopify brands in 50+ countries using its platform, BiteSpeed has established a strong presence in markets including India, the Middle East, Southeast Asia, Europe, and North America. Notable clients include brands such as Skybags, Ugaoo, and Zouk.


Here’s a summary of the funds, investors, startup details, founders, and fundraising rounds mentioned in the provided text:

Startup:

  • Name: BiteSpeed
  • Founded: 2019
  • Sector: Artificial Intelligence platform for e-commerce customer engagement

Founders:

  • Vinayak Aggarwal – Founder and CEO of BiteSpeed

Fundraising Series:

  • Pre-Series A: $3.5 million (latest round)
  • Total Capital Raised: $5.6 million
  • Previous Funding Rounds:
    • $2.1 million (led by Peak XV’s Surge and Whiteboard Capital)

Funds & Investors:

  1. Lead Investor:
    • Peak XV’s Surge
  2. Participating Investors:
    • Whiteboard Capital
    • Gaurav Munjal (CEO of Unacademy)
    • Aakash Anand (CEO of Bella Vita)
    • Dhruv Vohra (META APAC Head)
    • Other unspecified investors

Usage of Funds:

  • Scaling operations
  • Enhancing product offerings globally
  • Hiring across marketing, sales, and technical departments
  • Deepening research and development in generative AI

Target Regions for Expansion:

  • North America
  • Europe
  • Middle East
  • Southeast Asia

Customer Base:

  • Over 2,500 Shopify brands in 50+ countries
  • Notable clients include: Skybags, Ugaoo, Zouk

This overview encapsulates the relevant details related to BiteSpeed’s funding scenario and business focus.

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