Rumik.ai, a conversational AI platform catering to enterprises, is set to raise $5 million in a fresh funding round led by Elevation Capital, according to two individuals familiar with the development. The round will also see participation from existing investors, including Info Edge and Huddle Ventures, sources confirmed.
One of the sources noted that Rumik recently raised $1.5 million from Info Edge, and the new round, spearheaded by Elevation Capital, is a follow-up to that investment. The term sheet has already been signed, and funds are expected to be transferred soon, the person added, requesting anonymity as the deal remains private.
Founded in April 2024, Rumik.ai has developed Ira, a multilingual conversational AI system designed to analyze emotion, understand user intent, and converse in regional languages including Hinglish, Bangla, and Marathi. Unlike conventional AI chatbots, Ira is built to form memories and experiences, aiming to offer more human-like intelligence and interactions.
Sources also indicated that the startup may be targeting a valuation of $25–30 million in this round, reflecting growing investor interest in conversational AI and speech recognition technologies.
Neither Elevation Capital, Rumik, Info Edge, nor Huddle Ventures responded to queries by the time of publication.
This marks Elevation Capital’s second significant investment in the conversational AI space in recent months. In May 2025, the firm led a $6 million seed round in Adopt AI, another agentic AI startup focused on natural language task execution. The firm has also strengthened its AI investment focus with the appointment of former Meta executive Krishna Mehra as partner in December 2024, to lead efforts in SaaS and AI verticals.
Rumik.ai’s rapid traction highlights the increasing demand for intelligent, context-aware communication platforms that go beyond traditional automation to enable emotionally intelligent enterprise interactions.
