BANGALORE from India, May 11, 2021 / PRNewswire / – AskSid, an AI startup serving global retail and consumer goods customers with live implementations in 23 countries, has successfully graduated from the prestigious and coveted Techstars Hub71 Accelerator program in Abu Dhabi.
Techstars is a global investment and innovation platform that helps entrepreneurs scale their businesses to international brands. The three-month program focused on strategy, execution, fundraising and helping entrepreneurs build their networks. Techstars also had 9 other promising startups with AskSid in his class of 2021.
Techstars is globally recognized for its mentoring accelerator. It gives startups and founders a unique opportunity to receive mentorship and practical advice from over 100 global industry leaders, accessible from Techstars’ global network. the Abu Dhabi Sovereign wealth fund, Mubadala Investment Company, has partnered with Techstars to execute its program at Hub71, the rapidly growing global technology center based in Abu Dhabi.
The founder and CEO of AskSid, Sanjoy Roy, says the Techstars Hub71 program not only transformed the company’s growth trajectory, but also helped the company prepare for funding. AskSid is currently raising a series of $ 1 million, which he is confident to close in the next 3-6 months.
“Less than 2% of the total number of successful applicants worldwide have been admitted to the Techstars program. This is why the acceptance of AskSid was a great validation that we are offering a differentiated product in a crowded AI space that can win the global market on its own merit. Our pipeline has grown 3 times over the past 3 months, with active discussions with several global retail and CPG brands across United States, EU, ME and APAC ”, Roy said.
Abu Dhabi The Techstars Hub71 Accelerator program is convinced of $ 15 million investors for this year’s cohort of 10 startups, despite the market disruption caused by Covid-19.
“Our first batch of startups raised $ 15 million last year and we aim to increase in the same range this year as well ”. says Vijay Tirathrai, general manager of Techstars.
Techstars has worked with over 2,000 startups, totaling $ 11.4 billion in global funding since 2006.
With the rise of e-commerce and a massive influx of first-time online shoppers, retail and consumer brands have a huge opportunity to drive conversions, only if they can provide expert advice at all times. and anywhere to online shoppers.
That’s where AskSid comes in – A digital shopping assistant that helps retail brands sell faster.
Verticalized for retail and with connectors to major e-commerce engines, AskSid helps brands build a retail AI brain – a knowledge base of questions and answers, beacons, and intentions from of existing data, which feeds impactful shopping experiences, while extracting in-depth consumer insights from transcripts of conversations, leading brands to all new business opportunities.
Living in 23 countries, supporting over 100 languages, global customers such as AkzoNobel, Danone and Wolford have deployed the solution to channels such as websites, Facebook, WhatsApp, etc.
Natural Language is going to be the new user interface for retail e-commerce, and AskSid’s vision is to disrupt not only the way retail brands interact with their consumers across channels, but also the way those brands were able to read the minds of their consumers, thanks to advanced AI analyzes of natural language data.
The Techstars global network helps entrepreneurs succeed. Founded in 2006, Techstars started with three simple ideas: entrepreneurs create a better future for all, collaboration spurs innovation, and great ideas can come from anywhere. Techstars’s mission is to empower everyone on the planet to contribute and benefit from the success of entrepreneurs. Techstars has invested in over 2,200 companies which today have a combined market valuation of $ 29 billion.