BiteSpeed Raises $3.5 Million for E-commerce AI

New Delhi, Nov 13 (PTI) E-commerce AI startup BiteSpeed has raised USD 3.5 million in a funding round led by Peak XV's Surge, with participation from Whiteboard Capital, Gaurav Munjal (Unacademy CEO), Aakash Anand (Bella Vita CEO), and Dhruv Vohra (META APAC Head), amongst others.

With the fresh capital, BiteSpeed said it plans to accelerate its hiring efforts across marketing, sales, and technical departments to support its global expansion.

Key growth regions include North America, Europe, the Middle East, and Southeast Asia, it said.

The company also aims to deepen its research and development efforts, particularly in generative AI, to further enhance its suite of products for e-commerce brands.



****



AI-Powered platform StampMyVisa raises Rs 6.6 crore from Unicorn India Ventures



AI-Powered platform StampMyVisa has raised Rs 6.6 crore from Unicorn India Ventures and plans to use the funds to upgrade its AI technology, expand its geographical reach in the country and introduce new offerings on the platform.

"The newly raised funds will also be deployed to expand StampMyVisa's geographical footprint across India, enhance its AI-driven technology, and launch next-generation products, including SMV Protect Insurance (a unique offering that refunds visa fees in case of rejection) and Travel eSIMs, providing further value to the platform's customers," a company statement said.

In the last 12 months, the company has grown over 7x and has scaled up from 50 Visa a day to 350 Visa a day, and aims to reach a million visas processing annually in the next 12-18 months, the statement added.