Racetrack.ai, an artificial intelligence start-up has secured $5 million in a funding round valued at $21 million.
“With the fresh capital, we are now looking forward to announce our next overseas operation base in the USA, Mauritius and Singapore,” said Subrat Parida, founder, Racetrack.ai.
Founded in 2015, the 50-member startup offers two flagship products— a chatbot for sales and support, and a business accelerator that helps in better business planning and execution.
“This move will help us delve into newer business verticals like retail, banking and healthcare. This boost in our physical presence will open new doors for us to partner with intercontinental brands and decision-makers while helping us to create global footprint in the AI industry,” added Parida.
In the booming AI market, Racetrack.ai is targeting verticals like BFSI, education, health, hospitality, and real estate.
It is to be noted that in the first half of 2018, India recorded overall flow of $3.6 billion through external funding rounds made across 411 deals in startups.