Enterprise AI platform Loop has raised $14 Mn (over INR 126 Cr) in a Series A funding round led by Nyca Partners. The round also saw participation from multiple angel investors and venture funds, including Gokul Rajaram, Base10, Afore Capital, Converge, Alumni Ventures, Data Tech Fund, John Pepper, 9Yards Capital and Operators Studio. The startup intends to use the freshly raised funds to further expand its AI product suite and bolster hiring. Founded in 2022 by Anand Tumuluru, Sundar Annamalai and Vinod Pachipulusu, Loop AI provides automated back-office assistance to food and retail brands. Loop AI builds AI agents specifically targeted for the restaurant business. Its agents measure insights on delivery patterns by gauging metrics like customer behaviour and preferences to curate strategies for a business’ growth. “Delivery is the new drive-thru, and it is poised to fuel the next decade of growth for the restaurant industry. As consumer behavior continues to shift towards takeout and delivery, our mission to make delivery more profitable for restaurant operators has never been more vital,” CEO Tumuluru said. Largely operational in the US, the startup claims that its clientele features over 3,000 restaurants and franchises of companies like McDonald’s, Koyo Ramen, Whataburger, Cowboy… Read MoreInc42 Media
