Almonds Ai, a channel loyalty and rewards platform, has raised Rs 16 crore (nearly $1.9 million) in a seed funding round co-led by promoters of Haldiram’s and JITO Incubation and Innovation Foundation (JIIF). The round also saw participation from Venture Catalysts, Ever Grow Capital, Nine ALPS, and other investors such as Hemant Jain and OfBusiness co-founder Nitin Jain.
The proceeds will be utilized to accelerate R&D initiatives, expand the team, and enhance product offerings, Almonds Ai said in a press release.
Co-founded in 2020 by Abhinav Jain and Apurv Modi, Almonds Ai aims to redefine how brands engage with their distribution networks through cutting-edge AI technology, enhancing engagement, education, and rewards for retailers, dealers, and influencers.
Almonds Ai states that its flagship Channelverse ecosystem and green loyalty programs aim to create an impact in AI-driven loyalty management and sustainability, enabling businesses to build deeper, data-driven relationships with their distribution networks.
The Gurugram-based company claims to have 100 distribution-led organizations and a network of 6 million channel partners, including retailers, dealers, and professionals such as drivers, painters, and mechanics.
Almonds Ai asserts that its AI-powered platform will play a crucial role in optimizing sales channels, improving partner engagement, and driving customer retention across sectors.
Two months ago, employee engagement platform AdvantageClub.ai raised $4 million in its latest funding round, led by Axilor Ventures, bringing the company’s total funding to $11 million. The round also saw participation from AFG Ventures, Prasanna Sarkar, Bytez Ventures, and some existing investors.
