The news curation app, Hotify has received $150K in a seed round of funding led by Rajasthan Angel Investors Network (RAIN). The company will use this freshly raised fund for strengthening its team, developing its product and improving its Artificial Intelligence capacity. With this fund, company’s valuation rises to $3.9 Million.
Hotify is a news aggregator app that personalizes news from all around the world based on your interests. The company uses machine learning tech for aggregating news for its users. The startup was founded by Abhinav Garg, Ankur Garg, Li Jian and Alok Gautam in January this year.
The Hotify mobile app is a news curator that offers recommended, relevant and timely digital content for the users from across the web. The company believes in providing real time awareness to its users by using technology. As of now, interested users can use its service through its Android mobile app.
Currently, the news app Hotfiy is facing competition from some other news providers like InShorts, DailyHunt and Flipboard. The toughest competition for the startup is InShorts, which had raised almost $25 Million from Tiger Global.
Artificial Intelligence is a very popular and interesting field right now, as several companies are investing in this space. Recently, AI startup, Arya.ai had raised $750K in Pre-Series A round of funding from VentureNursery members and YourNest Angel Fund. Another stealth mode AI startup, Niki.ai had also raised unspecified sum from Ronnie Screwvala’s Unilazer Ventures.
Currently, most of the top tech companies like Microsoft, Alphabet, Apple and Facebook are investing a lot in the research and development of Artificial Intelligence.