Ambit represented investor Bohemia Venture Capital (later Presto Ventures) in negotiating an investment of tens of millions of CZK in Czech startup Feedyou.
Feedyou was financially self-sustaining at the time of the transaction, so the new funding was intended to support new opportunities and accelerate the company's development. The investment from Bohemia Venture Capital (later Presto Ventures), announced on October 10, 2018, was intended to support international expansion, particularly into Germany.
Chatbots for recruitment and customer service
Pardubice-based Feedyou developed custom, turnkey chatbots for recruitment, customer service, sales, and education. In HR, the chatbots could respond to applicants over the weekend, answer questions from existing employees, and help them navigate employee benefits.
At the time of the announcement, Feedyou's customers included ČEZ, Škoda Auto, Continental, and Lufthansa InTouch.
Investment to support international expansion
The investment in Feedyou of tens of millions of CZK was intended to accelerate growth and entry into additional markets. Alongside funding, the company expected the BVC team to help it establish connections with major international brands and develop its business abroad.
As a contemporary CzechCrunch article reported, Feedyou was financially self-sustaining at the time of the transaction. The funding was therefore intended to support new opportunities and accelerate the company's development.
Feedyou's subsequent development
According to its company timeline, Feedyou was running more than 200 chatbot solutions on its conversational platform in 2020.
In 2022, the company also turned its attention to voice assistants, known as voicebots. Its company history lists more than 250 implementations in 30 countries for that year.
