Ringg Secures $10 Million from Peak XV to Expand Voice AI Services in India

Funding Round Extension

Ringg, an Indian voice AI startup, announced it has secured an additional $10 million in funding from Peak XV Partners. This investment serves as an extension to its Series A round, bringing the total amount raised in this round to $15.5 million. The company had previously raised $5.5 million earlier this year.

Evolution of Services

Initially, Ringg began as a text-to-speech startup named DesiVocal. The company shifted its focus to building voice AI agents for enterprises due to the high cost of training its own speech models. Its first customer was Indian fintech Cred, and it now serves other Indian startups including Flipkart, Practo, Groww, and PolicyBazaar.

Focus on Complex Workflows

While Ringg still handles high-volume, low-complexity tasks such as outbound calling and lead qualification, it is increasingly targeting more complex applications. These include appointment booking for healthcare clinics, abandoned-cart recovery for e-commerce sites, and onboarding/KYC checks for fintech applications. For example, Ringg's voice agent is used across 1,200 clinics for the healthcare app Practo.

Market and Future Direction

Ringg currently processes 20 million call attempts monthly, with voice calls constituting over 70% of its business. The company is also expanding into other communication channels like chat and WhatsApp, and automating browser-based support requests for clients such as Shell. Most of Ringg's customers are in India, with some presence in the Middle East and the U.S. The company plans to partner with Global Capability Centers in India to expand its reach to multinational corporations.