upliance.ai raises ₹34 crores in seed funding led by Khosla Ventures
The successful seed funding round follows a pre-seed investment of ₹11 crores in 2023
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Hyderabad: In a significant development, upliance.ai, India’s pioneering AI-powered home appliance company, has successfully secured ₹34 crores in a seed funding round. The investment, led by Khosla Ventures, marks a pivotal moment for the burgeoning startup, valuing it at ₹143 crores.
Khosla Ventures, renowned for its early and impactful investments in innovative startups, including OpenAI, has reaffirmed its commitment to cutting-edge technology by spearheading this funding round. With a portfolio boasting industry giants like Doordash, Instacart, and Stripe, Khosla Ventures brings invaluable expertise to upliance.ai's journey.
The flagship product, 'upliance', integrates AI technology into everyday cooking experiences. Featuring a user-friendly interface and over 500 guided recipes, the appliance streamlines cooking tasks through its Smart Jar, capable of performing various functions such as chopping, sautéing, and blending. Powered by Up⤴️AI, a proprietary technology designed to simplify cooking processes, upliance.ai aims to revolutionize culinary experiences for users of all skill levels.
Mohit Sharma, co-founder & CTO, describes the appliance as akin to "having a chef in your kitchen," highlighting its ability to cater to individual tastes and preferences seamlessly.
With this infusion of capital, upliance.ai sets ambitious targets for 2024, aiming to achieve a revenue of ₹150 crores and scale production to 20,000 units annually within the next six months. The company's meteoric rise, fueled by positive user feedback and organic marketing efforts, underscores its potential to disrupt the culinary landscape.
Mahek Mody, co-founder & CEO, expresses gratitude for Khosla Ventures' support, emphasizing the strategic alignment between their vision and the investor's ethos. Rajesh Swaminathan, Partner at Khosla Ventures, echoes this sentiment, lauding upliance.ai's innovative approach and its potential to revolutionize daily eating habits.
The successful seed funding round follows a pre-seed investment of ₹11 crores in 2023, further solidifying upliance.ai's position as a frontrunner in the deep tech and hardware startup ecosystem. With accolades such as being the first runners-up in Qualcomm's Design in India Challenge, the company continues to garner attention and investment interest, paving the way for a promising future in India's sunrise sector.
