Nvidia, others inject $150m into enterprise AI firm

Kore.ai CEO and founder Raj Koneru / Photo credit: Kore.ai

Kore.ai, an AI company building an enterprise-grade no-code platform for chatbots and other solutions, has raised US$150 million in a strategic growth investment round. FTV Capital led the round, with participation from Nvidia, Sweetwater Private Equity, and others.

The company’s products include “AI-native” conversational solutions for banking, retail, and healthcare, among others. It counts Coca-Cola, Airbus, and AT&T among its clients, which altogether account for 2 million enterprise users worldwide.

Headquartered in the US with offices in Hyderabad, Seoul, and Tokyo, Kore.ai will use the new funding to expand its market presence, among other initiatives.

“Our open approach grants businesses freedom of choice with built-in guardrails for effective AI implementation,” said Raj Koneru, founder and CEO of Kore.ai, in a statement.

The company said it has had “triple-digit year-over-year” revenue growth over the past several years. Citing a Gartner report, Kore.ai said the conversational AI market is expected to reach US$377 billion in revenue by 2032, up from $66 billion in 2023.

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