Canbank Venture Capital Fund Ltd (CVCFL) recently announced that it has invested in a Bangalore based conversational AI Chatbot company M/s. CoRover Private Limited from their Fund VI – Empower India Fund. The capital will be resourced to fund CoRover’s expansion and towards further research & development to boost its proprietary of AI-based platform.

Canbank Venture Capital Fund Ltd. are a wholly owned subsidiary of Canara Bank. So far, Canbank Venture Capital Fund Ltd has managed five Venture Capital Funds, apart from a Fund of Funds i.e Electronics Development Fund (EDF). Empower India Fund is the Sixth Fund of Canbank Venture Capital Fund Ltd.

CoRover® is the first Human Centric conversational AI Chatbot company founded by Mr. Ankush Sabharwal, Mr. Manav Gandotra and Mr. Kunal Bhakhri. CoRover offers a managed Chatbot as a Service (CaaS)® with self-onboarding support, AI based VideoBot platform to help organisations cut down costs, accelerate revenue, improve customer experience and operational efficiency. CoRover has over 400 million+ unique users and more than 20 Billion+ interactions. It has an active user data base across the world with the highest user traction in India.

CoRover offers its AI Bots services across channels like Website, App, WhatsApp, IVR, SMS, Kiosks, Telegram, Facebook, Tweeter, Microsoft Teams and other Social Media & IM Channels, in different formats viz. VideoBot, VoiceBot, and ChatBot (Text, Click, Touch) and even supports around 12+ Indian/Vernacular and 100+ Foreign Languages to cater to the needs of the consumers.

CoRover has Various successful AI Virtual Assistants (like AskDisha®, AskSarkar, AskDoc.ai®,AskPai, AskVaani®, AskMaitri®, YukimiBot, and many more) which are built using CoRover’s proprietary and patent protected Cognitive AI technology, which is powered by Artificial Intelligence (AI), Machine Learning (ML), Natural Language Processing (NLP), Augmented Reality (AR), Virtual reality (VR) and Robotic Process Automation (RPA). 

Ankush Sabharwal, CoRover, CEO, said, “We at CoRover are delighted to receive a generous funding and the trust shown in us by Canbank Venture Capital Fund Ltd. We welcome this collaboration which will aid us to expand our reach in various markets nationally as well as internationally with our innovative human-centric conversational AI products and solutions. I would also like to express my gratitude to Mr. R P Singh, an Angel investor, who is a successful entrepreneur and on board of many successful Startups, as he supported us initially with the required funds and the business mentorship which helped us come this far.

Hajime Suzuki, CEO of Innovation Hills Inc said, “AskYukimi a VideoBot created using CoRover Conversational AI platform, has been a huge success in Japan. We have been fortunate to work with CoRover as a client and also as their co-sell partner, we are soon going to launch CoRover’s AI virtual assistants (ChatBot, VoiceBot, VideoBot) for various domains in Japan like Banking (Unified Conversional AI Banking), Retail (Voice Commerce), Mobility (Automotive and Travel) and more.”

The company has gone global providing Conversational AI platform to companies in the US, UK, UAE, Japan, Singapore and trying to spread in many more countries. CoRover will continue to steer the transformation of chatbots in global market. 

As per Mordor Intelligence, the chatbot market which was valued at USD 17.17 billion in 2020, and it is projected to reach USD 102.29 billion by 2026, registering a CAGR of 34.75% over the forecast period, 2021-2026.

For more details, please visit https://CoRover.ai