Pepsales, an emerging software-as-a-service (SaaS) platform designed for sales teams, has successfully raised $1.1 million in a funding round led by Chiratae Ventures. The funding round also welcomed participation from various angel investors, signaling a strong interest in the platform’s innovative approach.
The newly acquired funds will be instrumental in developing Pepsales’ enterprise-grade AI SaaS platform. The company plans to enhance its market presence, invest in sales and marketing, bolster customer support, and expand its talent pool with a focus on product engineering and AI roles.
Founded in 2023 by entrepreneurs Ajay Singh and Abhinandan Sahgal, Pepsales harnesses AI and machine learning (ML) technologies to help business-to-business (B2B) SaaS companies create personalized product demos that resonate with potential customers.
“The enterprise application software market spends more than $200 billion annually on sales and marketing expenses. This is the market we are catering to, and within it, our software belongs to the demo automation category. There have been a few players in the industry, but the market size is big since it’s a new category. We are highly ambitious to ensure that we can build an enterprise-grade product and capture as much market share as possible,” Singh said in an interaction with ET.
Currently operating in beta mode, Pepsales serves 10 customers and aims to double down on its efforts in the US and India. “Our plan is to reach 25 customers by December, and after that, we will do the public launch,” Singh added.
Sahgal emphasized the effectiveness of their technology, stating, “If you show a demo to Nike which is meant for Nike and not for Mercedes, chances are you can improve your wins by 50%. Our proprietary AI and ML technology automates the process of creating personalised demos, saving sales teams countless hours.”
Commenting on the significance of the investment, Venkatesh Peddi, managing director at Chiratae Ventures, remarked, “Pepsales is tackling a critical pain point in the massive B2B tech sales landscape with an innovative, AI-driven approach. Their solution has the potential to transform how companies conduct product demos and close deals.”
Chiratae Ventures, known for backing notable companies such as Policybazaar, Curefit, Flipkart, and Lenskart, continues to support innovative startups poised to reshape their industries. Pepsales’ ambition to innovate within the demo automation category positions it well within a rapidly evolving market.