Gurugram-based AI-powered engagement solutions provider Almonds Ai has secured Rs 16 crore ($1.9 million) in a funding round led by Haldiram’s and JITO Incubation and Innovation Foundation (JIIF). Other notable investors in the round include Venture Catalysts, Ever Grow Capital, Nine ALPS, and industry leaders Hemant Jain (MD, KLJ Group & President, PHDCCI) and Nitin Jain (Co-founder, OfBusiness).
The fresh capital will enhance research and development (R&D), expand the workforce, and improve product offerings. The company aims to scale its AI-driven engagement solutions and enter global markets while strengthening its presence in India’s channel loyalty sector.
Founded in 2020 by Abhinav Jain and Apurv Modi, Almonds Ai leverages artificial intelligence to revolutionise brand engagement for retailers, dealers, and influencers. Its flagship Channelverse ecosystem and Green Loyalty programs are designed to optimise loyalty management and sustainability efforts, helping businesses establish data-driven relationships with their distribution networks.
Commenting on the investment, Manohar Lal Agarwal, Chairman & MD, Haldiram’s, said:
“At Haldiram’s, we have always believed in investing in ideas that create real impact. Almonds Ai’s innovative approach to channel partner engagement is transforming the industry. We see immense potential in their platform as it aligns with our vision of delivering exceptional customer experiences.”
Almonds Ai currently boasts a network of over 100 distribution-led organisations and 6 million channel partners, including retailers, dealers, and professionals such as drivers, painters, and mechanics. With this funding, the startup plans to expand its operations further globally, mainly targeting markets in the Middle East, North Africa (MENA), and Southeast Asia.
According to co-founders Abhinav Jain and Apurv Modi, “This funding will enable us to scale our AI-driven engagement solutions, empower businesses with cutting-edge tools, and strengthen our ability to create long-term, meaningful relationships between brands and their channel partners.”