Cactus Venture Partners invests USD 4 million in Kapture CX

NEW DELHI: Venture capital firm Cactus Venture Partners on Thursday said it has invested USD 4 million (about Rs 33 crore) in software-as-a-service (SaaS)-based customer support automation startup Kapture CX.

Founded in 2014, Kapture CX provides business solutions to automate customer support over call, e-mail, chat and social media for retail, travel, banking and financial services (BFSI) and consumer durable companies.

''We are seeing a lot of demand from enterprises to enhance their customer experience. No one is happy with their customer support platform provider and large incumbents are struggling to meet the requirements of enterprise customers.

''The bets we have placed on Gen AI capabilities and expansions in select international markets have paid off quite well. We intend to use this capital efficiently in growth markets we have identified,'' Co-Founders of Kapture CX Sheshgiri Kamath and Vikas Garg said.

Kapture CX has operations in the US, UAE, Indonesia and the Philippines apart from India and lists clients such as Meesho, BigBasket, Tata1MG, Reliance, Unilever and ITC, according to a release.

Notably, Suumit Shah of Dukaan had recently replaced 90 per cent of their customer support staff with an AI-powered chatbot, attributing the reason to ''struggle'' with customer support, he said in a tweet.