HeyoPhone Raises 500K USD In An Angel Round

HeyoPhone, the smart communication app dedicated to serving India’s 60 million+ small and medium-sized business (SMB) community, has announced the successful closure of its  500K USD  angel funding round. The round saw participation from super-angels Aakash Chaudhry, co-founder of Aakash Educational Services (Aakash-Byju’s), Amit Chaudhary, co-founder of Lenskart and Dinesh Gupta, co-founder of Busy Accounting.

Designed to address the unique needs of India's extensive SMB segment, HeyoPhone offers an ultra-simple solution for businesses to effortlessly connect with their clientele through a unified, smart number. With HeyoPhone, business owners can seamlessly manage all their communication requirements, including calls and WhatsApp interactions, via a single platform. This holistic approach cultivates a consistent brand identity, a centralised customer database, and comprehensive business analytics, all consolidated under the umbrella of one "Bharat ka business number." As India's digital transformation continues to unfold, HeyoPhone plays a pivotal role in aligning businesses with the ONDC (Open Network for Digital Commerce) framework, accelerating digitIzation for small enterprises.

Speaking on the investment, Aakash Chaudhry, Co-founder, Aakash Educational Services, commented: India's retail is set to get a strong digital boost with ONDC which allows every small retail to reach consumers directly. It is the right time to invest in the HeyoPhone app which digitizes customer engagement for all these businesses. Ankit has successfully built MyOperator, understands the SMB space and his is the right team to build something so simple and powerful for Indias 6 crore+ small businesses.

Amit Chaudhary, Co-founder at Lenskart commented: Heyo gives a direct digital line to every small business. Helping the business owner control his customer data, engagement and campaigns. While keeping the tech as simple as simply replacing your regular number with a smart phone number. Heyo is a game changer for India's SMBs and am happy to back it

Ankit Jain, the Co-founder and CEO of MyOperator and HeyoPhone, said, "The untapped potential within the business communication market is substantial, and it is poised for rapid expansion through the integration of conversational AI. Historically, communication has been an integral component of commerce. However, with the emergence of conversational-first interfaces, communication is now positioned to actively drive commerce."

He further emphasised, "We envision ourselves contributing significantly—potentially surpassing 5% of the SMB GDP in the coming years. The prevailing market dynamics are favourably aligned, and the confidence demonstrated by our investors in our leverage is remarkable. This infusion of funds will play a pivotal role in propelling our trajectory toward our visionary goals,”

Heyo has shown exponential growth from its launch in early 2023, crossing 100K KYCs and over 10000 paid customers.

Rimjhim Ray, Co-founder and Chief Marketing Officer of HeyoPhone, commented, "Heyo's trajectory within India's 50 million-strong SMB landscape has been nothing short of remarkable. Our growth has been fueled by automated on-boarding, an intuitive user interface, and robust word-of-mouth referrals, which have effectively limited our acquisition costs to below Rs 200. We have raced to half a million downloads and 100000+ KYCs in 6 months and our sights are set on reaching a million small businesses in India within the next 3-5 years. Alongside, we also recognise the significant demand for our app in emerging economies across Asia, LATAM and Africa.”

Harnessing the potential of generative AI, HeyoPhone aims to convert SMBs' everyday interactions into dynamic commerce opportunities. This groundbreaking approach will streamline processes such as order placements, appointment scheduling, and transactions, all executed seamlessly through voice and chat interfaces. HeyoPhone's strong foundation is powered by MyOperator, an industry-leading cloud communications provider in India. Established in 2013 by Ankit Jain and Pratik Jain, MyOperator boasts a client base of over 10,000, delivering versatile omnichannel call centre software and enterprise mobility solutions to corporates.