Airavat Secures $165K In Funding To Develop AI-Powered Telegram Bot For Crypto Traders
Airavat Secures $165K in Funding to develop AI-Powered Telegram Bot for crypto traders
Airavat , a crypto startup, has secured $1,65,000 in seed funding from EU- and MENA-based investors.
The funding will be used to create the original version of an AI-powered Telegram chatbot that promises to change how people interact with crypto.
Users will be able to trade cryptocurrencies on prominent exchanges like Binance, Huobi, and Uniswap using a single user-friendly Telegram interface.
Previously, the platform had received $90K through grants from Polygon Network (MATIC), Harmony (ONE), and Mina.
An AI-powered crypto tool
The chatbot uses powerful algorithms and machine learning. Users may set up personalized notifications for price fluctuations, market trends, and news updates, which will help them keep up with the fast-paced world of cryptocurrency trading.
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 want to thank our investors and grantor projects for putting their faith in us.’
The chatbot is user-friendly, with a simple interface that allows anybody to begin trading crypto. With the surge in the popularity of crypto, many individuals are interested in investing but are put off by the complexity involved. Airavat’s chatbot provides an approachable solution that will assist in bringing more individuals into the crypto space.
The capacity of Airavat’s Telegram bot to learn from user behavior is one of its distinguishing qualities. The bot will provide customized suggestions to users based on their trading experience by studying trading trends and preferences.
The creation of an AI-powered chatbot for crypto trading is an important step forward for the sector. Airavat is making crypto trading more accessible to a larger spectrum of individuals by combining the power of AI with the accessibility of a messaging platform like Telegram.
The use of artificial intelligence (AI) technology in cryptocurrency trading is not new, but Airavat’s approach is distinct in its emphasis on delivering a user-friendly and intuitive product. The bet is that making crypto trading more accessible will help promote industry acceptance and growth.
Airavat has a bold vision to revolutionize the world of cryptocurrency by creating an all-inclusive platform that seamlessly connects users to various CeFi and DeFi services such as Swaps, Staking, and Borrow/Lend.
The platform will serve as a bridge between different coins, networks, and platforms, making it effortless for users to access everything they need through a user-friendly chat interface. With Airavat, transactions that involve multiple networks and platforms will no longer be a hassle.
Read their roadmap / litepaper here.
Uses cases of AI in crypto
Trading bots are the most popular uses of AI in crypto. Besides that, there are other uses:
- Fraud detection: AI can detect and prevent fraud in cryptocurrency transactions. AI algorithms can identify suspicious activity and alert users to potential risks by analyzing transaction data and user behavior.
- Portfolio management: AI can help investors manage their cryptocurrency portfolios more effectively by analyzing market trends and providing personalized recommendations based on their investment goals and risk tolerance.
- Market analysis: AI can analyze large volumes of data from various sources, such as social media and news websites, to provide insights into market sentiment and trends. This can help traders make more informed decisions and stay ahead of the competition.
- Security: AI can help enhance the security of cryptocurrency transactions by identifying potential threats and vulnerabilities in real-time. This can help prevent hacks and other cyber attacks from compromising user data and funds.
More about Airavat
For a time now, the firm has been functioning as a bootstrapped startup, focused on three important areas.
- a Staking-as-a-service provider business YieldWallet
- a Telegram-based Crypto chatbot, Airavat
- a Delta-neutral DeFi vault service, Indra Capital finance.
The platform aims to “build an AI-powered Crypto chatbot on Telegram that will help users accomplish simple and complex tasks across the CeFi and DeFi ecosystems.”
Both the YieldWallet and IndraCapital.finance roadmaps and products will be consolidated into Airavat going forward.