(L-R) Kali CV, Siddharth Shankar Tripathi and Utkarsh Shukla, founders, Ringg AIVoice artificial intelligence (AI) startup Ringg AI has raised $5.5 million (₹48 crore) in a funding round led by Arkam Ventures, with participation from Groww’s Founder Fund, Cred founder Kunal Shah, White Venture Capital and existing investor Capital2B.
Founded in October 2023 by Siddharth Shankar Tripathi (formerly with Groww and Flipkart), Utkarsh Shukla (ex-Blinkit and Atlan) and Kali CV (ex-Flipkart), the no-code, multilingual platform helps businesses build human-like voice agents for workflows such as support, bookings, delivery coordination and recruitment.
The startup aims to use the fresh capital to fuel product development, global expansion and in-house AI model research to enhance performance, cut costs and support on-premise deployments for enterprise clients, founder and CEO Tripathi told ET.
“We’ve seen strong enrolments already. Now, with this capital, we’ll accelerate building our own models and capacity. We’ll expand our internal labs team and continue releasing open-source models publicly, as we’ve done before,” he said.
The startup aims to replace clunky interactive voice response agents and fragmented call centres with agents that grasp intent, execute actions and deliver outcomes.
Ringg AI currently handles around 1.5 million customer conversations per month, with about 77 per cent fully automated without human handover. The company supports conversations in 18 languages, including 10 Indian languages such as Marathi, Malayalam and Telugu, English, Arabic, Spanish, French, German and Bahasa.
The major sectors the company services include banking, financial services and insurance (authentication, negotiations), healthcare (bookings, follow-ups), and logistics (non-delivery fixes, fraud detection). The startup also claims that its users reported 57 per cent lower cost per resolution and 63 per cent reduced call centre expenses. The platform serves about 20 clients across India, the US and Saudi Arabia, including Cred, PharmEasy, Shiprocket, Flipkart and Shell. It is conducting pilots in Dubai and North America.
Tripathi cited the example of fintech firm Cred, its biggest account. Ringg AI handles calling across its user funnel, from loan lead qualification and customer support to collections.
He added that traditional infrastructure can’t scale up manually with demand. Cred’s loan book has hit ₹10,000 crore, but higher costs of funds than those of banks demand operating leverage and lower operating expenditure.
“In lending, everything from lead qualification and cross-sells to collections happens via calls,” Tripathi said.
For instance, if a non-banking financial company’s campaign generates 100,000 leads, it can’t hire 10,000 agents overnight. “It’s a speed-to-lead game against its rivals, which is where AI voice agents come in,” said Tripathi.
He said the cost benefit to users is at least 37 per cent and overall, factoring in the full cycle of hiring, training and call infrastructure set-up, the savings exceed 70 per cent in some cases.
The startup is planning three launches in the coming months: call-deflection agents with automatic voice follow-ups, an AI-native customer relationship management with memory for personalised interactions and an app store for community flows.
“AI is super charging the way enterprises deploy their voice stack across processes. Voice, with its natural ease of adoption opens the enterprise to far greater levels of automation than what pre-AI voice era allowed for. Ringg.ai has the distinction of being live across the most number of scaled up enterprise use cases compared to peers,” said Rahul Chandra, managing director, Arkam Ventures.
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