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Canbank Venture Capital Fund Ltd (CVCFL) has invested an undisclosed amount from its fund VI – Empower India Fund, in Bengaluru-based conversational AI startup CoRover Private Limited.

The capital will be used to fund CoRover’s expansion, and towards R&D to enhance its proprietary AI-based platform.

Canbank Venture Capital Fund Ltd, which is a wholly-owned subsidiary of Canara Bank, has managed five venture capital funds so far, apart from a Fund of Funds ie Electronics Development Fund (EDF). Empower India Fund is the sixth fund of Canbank Venture Capital Fund Ltd.

CoRover is a human-centric conversational AI company founded by Ankush Sabharwal, Manav Gandotra, and Kumal Bhakhri in 2016. It offers a managed Chatbot as a Service (CaaS) with self-onboarding support, an AI-based VideoBot platform to help organisations cut down costs, accelerate revenue, and improve customer experience and operational efficiency. CoRover said it has over 400 million+ unique users and more than 20 billion+ interactions. It has users across the world. It claims to have seen the highest user traction in India.

CoRover has various AI virtual assistants like AskDisha, AskSarkar, AskDoc.ai, AskPai, AskVaani, AskMaitri, YukimiBot, and many more, which are built using its proprietary and patent-protected cognitive AI technology, powered by Artificial Intelligence (AI), Machine Learning (ML), Natural Language Processing (NLP), Augmented Reality (AR), Virtual reality (VR), and Robotic Process Automation (RPA). 

CoRover offers its AI bots services across channels like website, app, WhatsApp, IVR, SMS, Microsoft Teams, and other social media and IM channels, in different formats — ranging from text, voice, and video, and even supports around 12+ Indian/vernacular and 100+ foreign languages to cater to the needs of the consumers.

The company has gone global, providing a conversational AI platform to companies in the US, the UK, the UAE, and Japan, and trying to expand to many more countries.