| |OCTOBER 20239TECH MINTAampe, an AI-powered messaging and user interaction platform, has raised $7.5 million in new funding led by Matrix Partners India and Peak XV Partners previously Sequoia Capital India.The monies will be used for product development and growth as the company seeks global expansion.Aampe, which was founded in 2020, is an AI native customer relationship management (CRM) platform that assists businesses and consumer apps with conversion and retention by personalizing and automating content experience. Aampe has now raised $9.3 million in total funding since its beginning."Aampe has developed a method for CRM AI agents to iteratively learn user preferences and then optimally adapt and respond to those preferences, unlocking the benefits that better customer experience provides," stated Paul Meinshausen, Co-Founder and CEO of Aampe.Aampe presently serves over 50 million customers every month and collaborates with companies such as PayU, Swiggy, and Zalora, among others."As the world shifts from growth at any cost to profitable growth with a solid unit economics profile, how users are engaged and retained within an application world is more important than ever," says Anandamoy Roychowdhary, partner ­ Surge, Peak XV Partners.Aampe intends to expand its consumer base in Asia, Europe, and North America. Incorporate information about goals and audiences, incorporate human feedback into customers message catalogue, and inject priorities from your business processes and inventory.Create distinct message content that appeals to each of the users while remaining mindful of your business priorities. By simply pressing the Send button, and Aampe's AI will handle the rest The largest industrial gas producer in India, Inox Air Products Pvt. Ltd., intends to invest $300-500 crore in the construction of ultra-high purification facilities and a supply network for gases used by semiconductor production facilities in India.Siddharth Jain, managing director of Inox Air Products, stated that the investments are being made in a modest manner this year and will be scaled up moving forward in tandem with the demand that will be created by semiconductor fabrication companies that will establish their facilities in the nation in the coming years.Only eight of the 50 distinct, ultra-pure gases needed for chip production are readily available in India in raw form. The infrastructure required to transport and store all of the remaining 42 gases must also be imported.Although the investments are not necessary right away, according to the company, they will be in the long run since India is luring chipmakers like Micron to establish chip assembly, testing, monitoring, and packaging units, or ATMP, and ultimately chip fabs locally.Inox AP, a supplier of raw materials to solar cell and chip manufacturers, was also in talks with a number of ATMP units and chip fabs that were considering setting up shop in India. To establish 10 production facilities by FY25, the company earlier this year outlined a 3,000 crore capital expenditure plan.The cost of building up local production of the eight gases would be significantly greater, according to Jain, and the long-term capex requirements for Inox AP would depend on the availability of the remaining 42 gases locally.Inox AP also intends to supply solar cell manufacturers like Jupiter International and Adani Group, both of whom have previously drawn up plans for gigawatt-scale solar fabs in India. For the designing, engineering, installation, and management of a cryogenic nitrogen generator to deliver high-purity nitrogen, the business has already inked a 20-year contract with First Solar, a well-known American solar technology company. For Tata Steel, it is making a separate investment of 1300 crore to establish up air separation machines. AAMPE RAISES $7.5 MILLION IN FUNDING LED BY MATRIX & PEAK XVINOX AIR PRODUCTS TO INVEST $ 300 - 500 CRORE FOR SEMICONDUCTOR PRODUCTION FACILITIES IN INDIA
< Page 8 | Page 10 >