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Alice Labs Raises 500k USD in Seed Funding

Alice Labs Raises 500k USD in Seed Funding 

Alice Labs, the company behind MyAlice , an AI-powered multi-channel customer service platform for e-commerce and online businesses announced  the completion of a USD 500,000 seed round of funding. Anchorless Bangladesh led the round, which also included HOF Capital. The funds will be used by Alice Labs to improve its core product offerings and expand into Southeast Asia and the Middle East and North Africa.

Established in November 2018, Alice Labs develops intelligent tools and conversational IA solutions for e-commerce and online business customer services and automation. MyAlice, the company’s main product, enables businesses to streamline customer service, making it more efficient and customer-friendly. Businesses are able, in order to automatically convert sales and service conversations to a live operator via the Natural Language Processing (NLP) and Machine Learning (ML), all of their customer-facing channels, such as web site chat and social media messaging platforms, to MyAlice.

The platform allows them, in a matter of minutes, to create a virtual assistant (chatboat) and automate up to 70%. They are automated by natural language processing and chatbot learning wherever possible with customers and connecting them to a live human operator for everything else.

Shuvo Rahman, Founder and CEO, Alice Labs said ,

“Over the past two years, we have refined our technology and product-market fit, developing a keen understanding of the challenges in the customer service space and unique solutions to address a wide range of client and consumer needs. With this momentum, we believe we can scale our growth across a few key markets through our highly targeted offerings. Both Anchorless and HOF Capital share our vision and can help us accelerate our growth not only through financing but also with key connections and market insights. We are truly grateful for their trust and support,” 

Alice Labs is currently active across markets in South-East Asia and South Asia. It operates in Singapore with operations in Bangladesh. Alice Labs works with more than 50 email-based stores and businesses in the region including leading brands and retailers such as Unilever, Coca-Cola, Giordano and Maybelline through its subscription-based customer service plans. MyAlice aims to decode shoppers in different regions’ complex behavior through machine learning and help businesses communicate with them better in their mother tongues.

Rahat Ahmed, Founding Partner and CEO at Anchorless Bangladesh gave his statement ,

“Alice is a prime example of the growing opportunity we see in Bangladesh: highly driven and disciplined founders like Shuvo are able to successfully leverage the country’s vast tech talent to build a cutting-edge product suitable for international markets. Alice Labs has an edge in being able to service markets that are often overlooked by larger global players,” 

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Alice Labs claims that MyAlice can help its customers reduce service costs by more than 30 percent while enhancing customer satisfaction and retention. In order to help customers lower cost related to customer service by up to 50% and double sales through greater customer participation and retention, the start-up will continue to improve its capabilities.

HOF Capital’s Tala Al Jabri expressed his excitement about the global prospects of Alice Labs,

“We are excited by Alice Labs’ potential, particularly its global application. The company has managed to produce considerable traction with leading enterprises on a global scale already, and this capital infusion will only further augment Alice’s reach. HOF Capital is committed to supporting the company in realizing this growth through its strategic enterprise network,”

As well as expanding, Alice Labs plans to use the funds to increase its services, build partnerships, further develop its supply channels to reach more customers and expand its team.

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