Chatbot startup Kata.ai raises series B funding from MDI, TPTF

Kata.ai, a conversational AI startup, said it has secured an undisclosed amount of funding in a round led by the Trans-Pacific Technology fund and MDI Ventures.

The Indonesia-based startup plans to use the fresh funds to extend its business and services to the commerce, healthcare, and insurtech industries, it said in a statement.

Photo Credit: Kata

In addition to the funding, Kata.ai also announced the launch of QIOS, a social commerce platform that allows small and medium enterprises (SMEs) to use and integrate AI technology in their sales process. The technology is based on chat applications such as WhatsApp, Instagram, and Facebook Messenger.

Kata.ai claims to be the only Instagram partner in Indonesia to access the social media platform’s application programming interface.

Its QIOS platform is also connected to e-wallet and e-payment applications such as Ovo, GoPay, LinkAja, and Dana, along with online courier platforms such as GoSend and GrabExpress.

“The QIOS app initiative was inspired by the condition of SMEs in Indonesia, especially with the current pandemic, where we’ve noticed an up to 70% decrease in sales for SMEs,” said CEO and co-founder Irzan Raditya.

Kata.ai develops artificial intelligence technology that allows for better interaction between humans and computers. Its natural language processing (NLP) tech has been used to create chatbots for companies such as Telkomsel, Indosat Ooredoo, Bank BRI, and Pertamina.

The company claims to have processed more than 700 million conversations and have 3 million monthly active users who interact with chatbots created by its Kata Platform. Kata.ai also said it saw growth amid the Covid-19 crisis, with the number of normal conversations on Kata-powered platforms having increased 3x during the pandemic period.

“Apart from obtaining series B funding, Kata.ai has also recorded consistent growth in annual recurring revenue for three consecutive years, namely the 2018-2020 period,” said Raditya.