Worxogo's Mia Raises 16.5 cr from Invrentus India & Ideaspring Capital
Worxogo, a Bangalore based start-up offering personal AI (Artificial Intelligence) coach to employees raised 16.5 crore from Inventus India and Ideaspring Capital in the Series A funding. The raised fund will be used primarily to scale the unique AI engine, MIA, and enter global markets.
Mia, the AI coach uses the principles of neuro-economics & behavioural science and sends nudge notifications to employees in regular basis by analysing their behaviour pattern and preferencesto improve their productivity. It delivers significant business impact of at least 25 percent increase in sales, higher productive employees, and reduced supply chain risk. Mia currently sends one million nudges to over 100,000 users everyday across 35 organizations and five countries.
Ramesh Srinivas, Co-Founder & CEO, Worxogo, says, “We believe that our first-of-its kind cognitive engine, Mia, will bring a radical shift in how performance is managed in near future. We are focused in our approach to reach every employee in an organization individually and allow Mia to coach them in a way that aligns personal growth with company objectives. The conceptual underpinning of our engine - behavioral science, neuro-economics and AI, are already dominating conversations as tools of change and we are the first to establish its importance in the enterprise context. We are excited about the next step of our journey and happy to have found like- minded partners in Inventus India and Ideaspring Capital.”
Parag Dhol, Inventus India, says, “Behavioural science is a relatively recent body of work which is at variance with classical economic thinking. That paradigm in combination with the ubiquitous mobile, always-on connectivity and machine learning enable productivity benefits in enterprises in real-time, in a personalised fashion and at considerable scale. The talented team at Worxogo is well placed to benefit from this confluence and we are pleased to partner with them on this exciting journey.”
Naganand Doraswamy, Ideaspring Capital, says, “Creating a truly engaged workforce has been one of the biggest challenges faced by companies across the world. While most performance products focus on company processes, what organizations fail to recognize is the individual employee behaviour that is unique to each employee. Worxogo’s AI coach, Mia is a truly path breaking product that applies the power of nudge, and neuroscience to coach every employee and the organization. We are thrilled to invest and be part of Worxogo’s journey and watch it transform the performance landscape in India and other markets.”
Worxogo was launched in 2015 and with significant success achieved in three years the company is tied up with over 35 customers including Titan Industries, PwC, L&T, Sutherland and others with focused applications in sales performance, BPO agent productivity, supply chain and innovation.
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