Enterprise AI Startup TrueFan AI Raises $10 Million in Series A Funding
TrueFan AI recorded 11X revenue growth over the past 20 months. For FY25, the startup reported revenue of ₹17.1 crore.
Gurugram-based enterprise AI startup TrueFan AI has raised $10 million (around ₹96 crore) in a Series A funding round led by Baring Private Equity Partners India and Z3Partners, with participation from IAN Alpha Fund and 3Lines Venture Capital.
The fresh capital will be used to expand the company’s enterprise customer base, strengthen distribution capabilities, enter new markets across Southeast Asia and the Middle East, and accelerate its expansion in the United States.
TrueFan AI also plans to invest heavily in scaling its AI infrastructure and advancing its video intelligence capabilities.
Founded in 2020 by Nimish Goel and Devender Bindal, TrueFan AI initially started as a celebrity engagement platform that enabled fans to interact with public figures through personalised video experiences. The company later developed proprietary AI video generation technology, which became the foundation for its transition into an enterprise-focused AI platform.
The startup began its enterprise AI journey in early 2024, with Zomato emerging as one of its first enterprise customers. Since then, the company has expanded to serve more than 100 enterprise clients across sectors including BFSI, healthcare, consumer goods, and media. Its client portfolio includes Bajaj Finance, HDFC Bank, Axis Max Life Insurance, Cipla, BharatPe, and Goibibo.
According to the company, TrueFan AI recorded 11X revenue growth over the past 20 months. For FY25, the startup reported revenue of ₹17.1 crore, marking a 131.1% increase from ₹7.4 crore in FY24, while losses narrowed to ₹8.8 crore from ₹13.9 crore during the same period.
Looking ahead, the company is building real-time AI video agents designed to support customer service, sales, onboarding, and product discovery use cases across enterprise workflows.