Worxogo, an enterprise start-up, has raised ₹16.5 crore in Series A funding from Inventus India and Ideaspring Capital. The company will use the funds primarily to scale its Artificial Intelligence (AI) engine Mia and enter the global markets.
Mia is a personal AI coach to employees and helps them improve their productivity through actionable advice using principles of neuro-economics and behavioural science. It understands what makes employees tick by recognising workplace behaviour preferences (intrinsic and extrinsic motivations) and their responses to nudges.
“We believe that our first-of-its kind cognitive engine Mia will bring a radical shift in how performance is managed in the near future. We are focused in our approach to reach every employee in an organisation individually and allow Mia to coach them in a way that aligns personal growth with company objectives,” said Ramesh Srinivas, CEO and co-founder of Worxogo.
Built on proprietary machine-learning algorithms that assess each employee’s unique behaviour preference, along with performance data, Mia sends customised nudges to employees regularly to help drive business performance, said the firm. It added that Mia delivers significant business impact — including at least 25 per cent rise in sales, higher productive employees and reduced supply chain risk.
“Behavioural science is a relatively recent body of work which is at variance with classical economic thinking. That paradigm in combination with the ubiquitous mobile, always-on connectivity and machine learning enable productivity benefits in enterprises in real-time, in a personalised fashion and at considerable scale,” Parag Dhol of Inventus India said.
Mia coaches over 1 lakh people every day across over 35 organisations and five countries.