Bot-as-a-Service startup raises $1M Seed funding from investors
With their Bot-as-a-Service business model, Arabot has been supporting organisations such Aramex, Orange, Bayt, Honda, and Total to automate processes and reduce operational costs.
Recently, Arabot announced that it has raised $1M in Seed funding, led by Riyad TAQNIA Fund (RTF) with the participation from existing investors.
With the capital raised, Arabot plans to continue its regional expansion, and invest in its proprietary AI chatbot technology platform and Arabic natural language processing (NLP), so as to deliver an improved, personalised customer engagement experience.
The chat bot is primarily used in Arabic language, as it is built upon Arabic NLP engine. However it can also communicate in English.
“We are improving efficiency through reducing operational costs, resolving inconsistent customer experience and managing an efficient and responsive customer's channels across different platforms like online business chat, messaging applications, mobile and web.Abdallah Faza, CEO and Co-Founder of Arabot
Previous to its funding round, the World Economic Forum (WEF) named Arabot as one of the 100 Arab start-ups shaping the Fourth Industrial Revolution (4IR) in MENA. Arabot claims to have "seen rapid growth Year-Over-Year."
"With businesses and consumers increasingly looking to streamline customer queries, increase customer satisfaction and reduce costs, arabot is showing itself to be a pioneer, delivering much-needed disruption in the industry by using personalized customer experience, adapting to multiple Arabic dialects," said Qusai Alsaif, Senior Manager at RTF
Multiple companies across the UAE and the MENA region are adopting chatboxes to engage customers, capture information for lead generation, respond to easy customer queries, and much more.
Chatboxes that are powered by artificial intelligence still have a long way to go in terms of reaching their potential. However, in order to improve, it needs to have data from real-world deployment. The more applications of artificial intelligence we see adopted today, the faster will we see its improvement to support people and businesses.