Most early stage startups spend an inordinate amount of time focusing on fundraising. Bangalore based Senseforth Technologies isn’t one of them.
The startup which was founded by Sridhar Marri, Krishna Kadiri and Ritesh Radhakrishnan in 2013 makes AI based chatbots for clients like HDFC, ICICI Bank and even Godrej Properties
Speaking to TheBigScope, Sridhar Marri, CEO, Senseforth says that just because they have bootstrapped for so long, it helped them to scale better and not fall for the same funding route and helped them create a strong image in front of their banking customers.
“The entire VC model has inherent problems and I didn’t want to go down the various stages of the same like Series A or B for funding. We wanted to keep the company sane and create tech which will behave like a friend,” said Marri.
There are over 100 chatbot startups in India according to Tracxn. “Certain 100 year old companies who were doing AI way before us are still there but now startups are ruling the AI game in India,” said Marri.
But he is also quick to point out that AI is still a work in progress and sometimes they have to manually intervene and remove biases. “Our Bots come back to us with information and we review them and decide what’s right and wrong. It’s always important to look at data and make recommendations,” says Marri.