AI-powered martech startup Fibr has raised $1.8 million (around INR 15 crore) in a seed funding round led by venture capital firm Accel. The round also saw participation from 2 AM VC and angel investors Kunal Shah of CRED and Sunil Kumar, ex-cofounder of Zenoti.

With the money, Fibr hopes to expand its clientele and enhance its technology stack. The company released a statement stating that it also planned to use the funds to hire additional staff to help the engineering, product marketing, and sales divisions.

Fibr is an AI-driven platform that helps marketers lower customer acquisition costs (CAC) and increase conversion rates. It was introduced in 2023 by Ankur Goyal and Pritam Roy. Pilot, the company’s flagship tool, assists companies in creating customised landing pages for emails, SMSs, and advertisements.

Commenting on the fundraise, partner at Accel Prayank Swaroop said, “We’re thrilled to support their vision of an AI-powered personalisation hub that empowers marketeers with greater efficiency and control to deliver superior results.”

Since going live in beta earlier this year, Fibr claims to have recruited a number of clients, including direct-to-consumer companies like Star Health and ACT Fibernet. Fibr is in competition with international rivals such as Instapage, Unbounce, and Leadpages.

Over 100 GenAI businesses are presently active in India, according to Inc42 data. Between 2019 and 2023, these startups have raised more than $600 million.

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