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As per experts, the global chatbot market is predicted to reach $15.7 billion by 2024, which indicates a yearly growth of 30.2%. The rise in the use of chatbots is fueled by the increase in the use of smart devices, AI-powered apps and voice recognition advances. Relatively lots of chatbot startups are growing and expanding really fast. One of them is London-based Futr. that has created a chatbot technology that is being deployed by the police, as well as local and central government.
Now, the machine learning chatbot startup has announced that it has secured £2.4 million (€2.7 million approx.) in a seed funding round led by leading venture capitalist (VC) firm Praetura Ventures. The company will use the funding to significantly grow its team of developers, data engineers and data scientists.
Founded in 2017 by Andy Wilkins and Lee Skyrme, Futr. basically offers conversation-as-a-service and its technology simplifies the way organisations deliver their services on channels used by their consumers and staff on a daily basis. These channels include WhatsApp, Alexa and Facebook Messenger in more than 100 languages.
The plug-n-play model of Futr integrates with the old and new systems that can fast-tracked and provide users with an intelligence chat interface overlaying a number of back-end systems. These products span across a range of internal and external conversation solutions. Some of these include an organisational assistant for staff and a 24/7 self-service for customers.
Partnered with Microsoft and Amazon
Futr has already partnered with global tech giants including Microsoft and Amazon. These tech giants have identified the AI chatbot startup as a top priority partner.
Andy Wilkins, CEO of Futr said “Lee and I founded Futr. because we believe that simple conversation is the ultimate user interface. We’re passionate about delivering universal access to products and services – where tech-savviness, language, availability and channel shift are no longer barriers.
“We’ve built a lot of clever tech that makes this simplicity possible, but this is only the beginning. For the next part of our journey it was really important to find the right type of support for Futr. and so we’re delighted that Praetura Ventures and the other investors who share our vision have come onboard. With their experience and backing we’ll continue to deliver exceptional products and solve some of our customers’ most meaningful problems.”
Stay tuned to Silicon Canals for more updates in the tech startup world.