Dubai-based Sterve — an AI-powered platform — suggests which products customers are most likely to buy and businesses can reach out to the customers with their offerings and promotions, said Deepak Mishra, Co-founder, and COO, Sterve.
The venture has got a tremendous response as demand spikes for new ways of engaging the customers and improved customer engagement results in an increase in sales. The platform utilizes multiple data points such as sales data, customer’s activities in online and offline stores, etc. to build a personalized marketing recommendation engine.
More than 3,500 businesses are registered with Sterve and more than $7 million worth of transactions are completed over the platform.
“Our product is being used by businesses from various domains and some of the major business chains are: Golden Dalla Meals Restaurant, Damas Flowers, Gafoorkas Thattukada, Top Touch Gents Salon & Spa, PetalBox, Al Sada Oud Perfumes, Royal Steam Car Care, Hyperchip Computers, Recree Entertainments and more,” said Mishra.
Mishra along with Jaicky Kumar, co-founder and CEO, came up with Sterve, which is an artificial intelligence-enabled full-stack solution for MSMEs to manage their commerce and finance through one app.
The startup has invested around $650K so far, Mishra said: “We always wanted to first start generating revenue and then go for the fundraise. In 2022, we are raising $2.5 million and in 2023 we’ll go for a $10 million fundraise.”
Sterve is the first ever AI-powered integrated platform in the Middle East & Africa region for MSMEs to manage their commerce and finance through one app. “Sterve will empower the MSMEs by providing them the tools that were only available to large businesses. This will transform the MSMEs landscape and how they operate in the region,” said Kumar.
Sterve helps businesses to go for personalized marketing recommendations to their customers which can easily boost their sales by up to 40 percent, claim the co-founders.
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