Upliance.ai, an innovative home appliance startup, has successfully secured approximately $4 million in seed funding, reaching a valuation of around $17 million.
The investment round was led by Khosla Ventures, a prominent supporter of AI and machine learning (ML) ventures such as OpenAI and Sarvam.
Co-founders Mahek Mody and Mohit Sharma have positioned upliance.ai to revolutionize Indian homes by incorporating AI and ML into their products. Since its launch in January 2023, the company’s smart appliances have been adopted in nearly 1,000 homes across India, demonstrating significant consumer interest.
Khosla Ventures’ involvement is expected to further accelerate upliance.ai’s growth, leveraging the firm’s experience with tech giants like Doordash and Stripe.
Here what upliance.ai’s co-founders had to say about the funding round:
“With this round, upliance.ai aims to grow its revenue to Rs 150 crore in 2024 and scale production to 20,000 units per annum within the next 6 months.
Investors in last year’s pre-seed round included Draper Associates, Rukam Capital, Rainmatter, and prominent angel investors, demonstrating confidence in our vision and potential.”
— Mahek Mody, Co-founder of upliance.ai
“Our flagship device, upliance, an AI cooking assistant, utilizes our proprietary model, Up AI, to understand the intricacies of food, cooking, and kitchen tasks, enabling autonomous execution.
With over $15 billion of assets under management, Khosla Ventures invests across various sectors, including AI, sustainability, enterprise, consumer, health, and frontier technologies.”
— Mohit Sharma, Co-founder of upliance.ai
