Airavat- an AI-powered Crypto utility chatbot, recently announced that they raised a $165K pre-seed round from prominent EU- and MENA-based crypto investors. The funding will be utilized to fulfill Airavat’s vision: “To build an AI-powered Crypto chatbot on Telegram that will help users accomplish simple and complex tasks across the CeFi and DeFi ecosystems.”
Airavat enables users to transact on CeFi (Centralized Finance) and DeFi (Decentralized Finance) ecosystems like Telegram.
Today there are a plethora of DeFi platforms offering multiple cryptos for trade. It can be daunting to manage all crypto investments spread across these platforms. Airavat has developed a chatbot in Telegram, through which users can make transactions without having to navigate multiple apps.
The vision of Airavat is to be a revolutionary force in cryptocurrency by creating an all-encompassing platform where a user can easily access CeFi/DeFi services such as Swaps, Staking and Borrow/Lend.
It will bridge coins, networks and platforms together and provide users access to everything they need via a simple chat interface. Transactions spanning several networks and platforms will become a breeze.
Check out their roadmap / litepaper here.
Gautam Sampathkumar, the founder/CEO of Airavat, said about the funding event: ‘These funds will help us put forth a compelling Crypto Chatbot UX and help us immensely as we emerge from Crypto winter. We’d like to thank our investors and grantor projects for putting their faith in us.’
Previously, the platform had raised $90K through grants from Polygon Network (MATIC), Harmony (ONE), and Mina.
According to Airavat, the funding will allow them to develop the initial version of our product and make it available to their users.
Airavat boasts several unique features that set it apart from other crypto tools:
It provides a simple and unified interface for completing complex multi-step crypto operations, making it easy for users to navigate and execute their desired actions.
Airavat offers single-hop bridges across coins, protocols, and networks for swaps, staking, and borrow/lend functions, allowing users to complete these transactions easily.
The platform provides the best price discovery at any given point in time, ensuring that users can complete their transactions at the most favourable prices.
Airavat helps users diversify their risk by offering multiple providers for staking and borrow/lend functions.
It removes complexity from the equation, eliminating the need for multiple product hops, gas fees, network bridging, and the potential for errors that can occur with these processes.
Airavat seeks to provide a comprehensive crypto solution by aggregating a range of CEXes, DEXes, Validators, Borrow-lend/NFT marketplaces, and other crypto-native platforms. Users can access a broad range of features and services in a single platform.
By maintaining and providing liquidity for users, they ensure that our users can complete their transactions quickly and at the best possible prices. The AI technology also plays a vital role in helping with intelligent routing and price discovery, further enhancing the user experience.
Additionally, their chatbot, will soon be powered by ChatGPT, and be available to assist users with crypto education, intelligent portfolio allocation, and trade alerts. This ensures that their users have access to the resources they need to make informed decisions and maximize their profits in the crypto market.
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