India's Ringg raises $10M from Peak XV to expand voice AI beyond phone calls
Indian voice AI startup Ringg has secured $10 million from Peak XV Partners, extending its Series A round to $15.5 million. The company, which processes 20 million call attempts monthly, is shifting from simple call automation toward more complex enterprise workflows.
Indian voice AI startup Ringg has raised $10 million from venture capital firm Peak XV Partners as an extension to its Series A funding round, bringing the round's total to $15.5 million after an earlier $5.5 million raise this year.
The investment reflects a bet that demand for voice AI will keep growing in India, where a recent Truecaller study found that more than 76% of consumers still prefer phone calls over other channels when communicating with businesses.
From text to voice
Ringg began as a text-to-speech startup called DesiVocal, but training its own speech models proved too costly, prompting its founders to pivot toward building voice AI agents for enterprises instead. Indian fintech company Cred became its first customer, and Ringg has since signed deals with Flipkart, Practo, Groww, and PolicyBazaar.
The company now processes 20 million call attempts per month. It initially focused on high-volume, simple tasks such as outbound calling, lead qualification, and loan collection, but co-founder Siddharth Tripathi said these use cases proved unsticky and turned into pure price competition.
As a result, Ringg has shifted toward more complex workflows, including appointment booking for healthcare clinics, abandoned-cart recovery for e-commerce, and know-your-customer checks for fintech apps. Its voice agent already operates across 1,200 clinics for the healthcare app Practo.
While voice calls still account for more than 70% of Ringg's business, the company is expanding into other channels such as chat and WhatsApp, and is automating browser-based support requests for clients like Shell.
Ringg builds its own speech recognition and generation models and eventually aims to own the full voice technology stack, though it says that remains too expensive for now. The company employs 40 people, with more than 15 hired in the past three months. India's voice AI market is described as crowded, with competitors including Deepgram, ElevenLabs, Sarvam, and others vying for position.
