HaiVE.Tech, an on-premises AI provider, has raised $1 million in pre-seed funding led by Mohan K, Founder and CEO of IppoPay, a renowned figure in the financial technology sector. This capital injection marks a significant milestone for the company as it positions itself for further expansion and growth in the AI industry.
As per the startup, the freshly raised funds will enable it to scale up its operations by expanding its engineering and marketing teams.
The primary focus of the expansion of the operations is to serve the burgeoning demand for AI services across various industries and markets. And with an increased workforce, the firm aims to cater to its existing client base and those on its waitlist.
HaiVE.Tech | On-premises AI Provider
Founded by Deepika Loganathan and Aravinth Ramesh in 2023, HaiVE offers on-premise business-specific tuned AI solutions for fintech clients and enables them to offer personalized and seamless customer support across multiple channels.
With its offerings, the startup helps businesses increase customer satisfaction, boost conversions, and improve overall business performance.
Speaking about the development, Deepika Loganathan, Co-Founder & CEO of HaiVE.Tech, said,
“At HaiVE, we firmly believe that AI is a game-changer for businesses looking to scale up. Our AI solutions not only ensure complete data privacy and control but also allow our customers to seamlessly integrate their preferred tools. This flexibility, combined with our commitment to delivering exceptional AI capabilities, will drive our growth and establish HaiVE.Tech as the go-to provider for businesses seeking AI-powered solutions.”
Deepika added that the investment will fuel its mission to provide on-premises AI services, ensuring data privacy and intellectual property control for our clients. The on-premises AI provider has strategically chosen to target the FinTech sector in both India and Australia as the initial expansion markets.
HaiVE.Tech has already amassed a waitlist of clients across multiple continents, demonstrating the global demand for its services. Now, following its success in the fintech industry, the firm plans to expand its reach to e-commerce companies in various geographies.
Commenting on the development, Mohan K, Founder and CEO of IppoPay, said,
“HaiVE is the game-changer for companies venturing into AI without risking their own competition. Just like a renowned food delivery startup that conquered the market by leveraging service scaling options, HaiVE empowers businesses by accumulating crucial data insights. By understanding the most popular food types in every neighborhood, they cleverly established cloud kitchens and expertly poached talent to offer high-volume products under their own brand. This strategic approach serves as a powerful lesson to any company relying on third-party hosted AI services. As an investor at HaiVE, I confidently endorse their solution for any company desiring AI integration without creating internal competition.”
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