June 23, 2020 / 12:06 PM / 11 days ago

AI chatbot firm Rasa raises funding from Andreessen Horowitz, Accel

(Reuters) - Rasa, a small artificial intelligence-backed chatbot company, said on Tuesday it had raised $26 million from investors such as Andreessen Horowitz and Accel Partners to fund more machine learning research and to add more products.

The company has raised $40 million, including the latest commitments, and its other investors include 468 Capital, Basis Set Ventures and Mango Capital.

“We are providing an open source framework for developer teams to build more sophisticated assistants,” Alex Weidauer, co-founder and chief executive officer, told Reuters.

In addition to the open source product, Rasa has a product for companies that generates subscription revenue, he said.

Rasa, whose platform was used by the World Health Organization to create a chatbot for providing information on Covid-19, counts Deutsche Telekom, BMW and Airbus among its clients.

Reporting by Supantha Mukherjee in Bengaluru; Editing by Simon Johnson

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