Originally published 30 August, Updated 6 December 2023.
Ambit, the conversational artificial intelligence platform, has raised NZ$1.5M to accelerate expansion into Australia where it targets new clients in the retail, utilities and financial services sectors.
The capital raise attracted new investors including Quidnet Ventures, a New Zealand deep tech VC founded by Mark Bregman, PhD, a former CTO of global firms NetApp, Symantec and Veritas Software, and Vulpes Investment, a Venture Capital fund based in Singapore. Satish Gupta, a former Vice President at Lenovo and IBM, and now a partner at Quidnet Ventures, has also invested in his personal capacity.
Tim Warren, co-founder and CEO at Ambit, says, “Conversational AI adoption among Australian eCommerce, utilities and financial services brands is being driven by consumer demand for 24/7 online support, just as businesses face staff shortages in contact centres and rising shareholder expectations to manage costs.”
Ambit’s AI-powered conversational platform is the brain behind human-like conversations delivered by chatbots, digital employees and more. Its world-leading natural language technology enables customer service teams to engage with any enquiries - all day, every day. Built to be infinitely scalable Ambit integrates with major global players and can process unlimited conversations.
The company is already providing automated customer service at scale for Australian clients including ASX-listed Laybuy (ASX: LBY), Glassons (with 35 stores in Australia) and Global events company ComExposium.