Channel loyalty and rewards platform Almonds Ai raised Rs 16 Cr Seed funding
The JITO Incubation and Innovation Foundation (JIIF) and Haldiram’s promoters co-led a seed funding round for the channel loyalty and rewards platform Almonds Ai, which raised Rs 16 crore, or almost $1.9 million. Venture Catalysts, Ever Grow Capital, Nine ALPS, and other investors, including Hemant Jain and Nitin Jain, co-founder of OfBusiness, also participated in the round.
According to a press release from Almonds Ai, the money raised will be used to boost R&D efforts, grow the workforce, and improve product offerings.
Almonds Ai, which was co-founded in 2020 by Abhinav Jain and Apurv Modi, seeks to improve engagement, education, and incentives for retailers, dealers, and influencers by redefining how brands interact with their distribution networks using state-of-the-art AI technology.
According to Almonds Ai, its flagship Channelverse ecosystem and green loyalty programs are designed to make a difference in sustainability and AI-driven loyalty management by empowering companies to establish more meaningful, data-driven connections with their distribution networks.
According to the Gurugram-based company, it has a network of 6 million channel partners, including dealers, retailers, and professionals like mechanics, painters, and drivers, in addition to 100 distribution-led organizations.
Almonds Ai claims that its AI-powered platform will be essential for increasing partner engagement, streamlining sales channels, and boosting customer retention in a variety of industries.
AdvantageClub.ai, an employee engagement platform, raised $4 million in its most recent funding round two months ago, with Axilor Ventures leading the round. This brings the company’s total funding to $11 million. AFG Ventures, Prasanna Sarkar, Bytez Ventures, and a few current investors also participated in the round.
