Denis Opudo
Elves platform is a tech-driven virtual assistant platform that aids in building AI and machine learning. The Company was launched in 2016 as a chat-based platform. The company allows users to do all sorts of activities anywhere at any time at no cost. The last year chief investors constituted of Dubai Angel Investors Kauffman Fellows Syndicate, Emaar and other angels from the US.
The startup secured a $2 million seed round in 2017. The seed funding which the largest ever obtained by Egyptian tech will aid in marking of Elves globally. Besides, the funding will also help to extend the company operation and introduction of new products to the platform.
According to Mohammed Sabry, Elves’ chief marketing officer (CMO), he said that the platform secures users help globally at no cost. Areas of Elves’ operation comprise of picking up your groceries, paying your bills, booking all your travel and booking dinner reservations. Additionally, the startup operates very fast for all human help activities. The app operation is very easy by users downloading the app and starts chatting with their ‘elf’. The app is also available on the Facebook Massager and Siri platforms. The company is looking forward to integrate more platforms soon.
The company subscribers are millennial with almost forty five percent from Egypt. Other than Egypt, 25% in the United States (US) and 30% within Gulf Cooperation Council (GCC) states. International operations are a true reflection of the company commitment to explore new markets. So long as subscriber gets connected to the platform, the systems ‘curate experiences’ as well as fulfilling the services. The company works with a team of strong partners worldwide. In cases where task need a new partner, the company register the partner and complete the task.
Despite the company humble beginning, the platform has managed to hire about 50 employees based in Dubai, Cairo and US. Further negotiations are in place to extend operation in GCC and other parts of the United States. The company also records revenue growth rate of between (10-15) percent monthly from vendors’ commissions.
The startup now plans to compete with e-commerce and traveling free service delivery platforms.
