Source: Entrackr
In Mumbai, Rumik.ai, an Indian conversational AI startup is in the process of raising $5 million in a funding round led by venture capitalist firm Elevation Capital, according to sources familiar with the matter. Rumik’s existing investors Info Edge and Huddle Ventures will also participate in this round.
“Rumik recently raised $1.5 million from Info Edge, and Elevation is now leading a fresh $5 million in a new round,” said a person close to the deal, who requested not to be named.
The company had previously raised $1.5 million in April of 2025 from Info Edge, which owns popular platforms including Naukri.com. Rumik is looking to expand its operations and improve its technology with its financing
Founded in April 2024, Rumik.ai, as a Tech Startup builds conversational AI platforms for businesses. Its core product, named Ira, is an artificial intelligence system that factors in user emotions, detects intent, and can converse in Indian languages such as Hinglish, Bengali (Bangla) and Marathi. This can help businesses offer “better” customer service using AI.
Ira is not simply “answering,” it is intended to remember previous conversations, learn from past conversations, and provide a more human connection. Rumik.ai indicates that human-like quality improves the overall user interface; allowing for a more conversational experience.
With growing attention to AI tools that provide emotional understanding and support for multiple languages, “The term sheet has been signed, and the money is likely to move soon,” said another source who requested not to be named as per entrackr. “Given the recent investor interest in conversational AI and speech recognition, Rumik may be targeting a valuation in the range of $25–30 million.”
Entrackr’s Requests for comment from Rumik, Elevation Capital, Info Edge and Huddle Ventures were not returned by the time of publication.
Rumik.ai received investment shortly after Elevation Capital invested in Adopt AI, another AI company that Elevation led a $6 million seed round for in May 2025. Adopt AI is focused on agentic AI, which takes in natural language and automates tasks, similar to Rumik.ai. Elevation Capital has a number of investments in both AI and SaaS, and they hired Krishna Mehra away from meta in December 2024, as a partner to focus on AI and SaaS investments in general, and in particular investments similar to Rumik.ai.
With its new capital, Rumik.ai is expected to build Ira further, expand its language capabilities, and grow its client base across India. With businesses ramping up their use of smart AI tools across industries, many investors will be looking into startups like Rumik that have emotionally aware and regionally aware technology applications.
