Lexi: India’s First ChatBot For Ecommerce Businesses

Velocity, a Bengaluru based fintech company, recently launched India’s first ChatGPT integrated chatbot–Lexi, with its existing analytics tool, Velocity Insights.

Considered India’s largest eCommerce analytics platform, Velocity Insights is entrusted by 3000+ Indian eCommerce brands to make informed business decisions. Insights sends over business reports on Whatsapp, daily, and also gives access to the Industry benchmarks—helping brands evaluate their performance in regard to their competitors.

Velocity Insights provides advanced analytics that gives access to information regarding eCommerce businesses’ marketing and sales performance—helping users peek into important business metrics like cost of acquisition (CAC), repeat sales, and return on marketing—all frictionlessly. As claimed by the founders, utilizing this platform helps brands save up to 3 hours per day otherwise spent on analyzing critical business metrics.

Stepping up, Velocity integrated ChatGPT within the same Whatsapp interface—empowering eCommerce founders to leverage AI to its full potential, and make business decisions not just frictionlessly, but in a conversational manner too.

“At Velocity we strive to provide leverage to eCommerce founders. Ever since ChatGPT launched, our product teams have been brainstorming on how it can be leveraged to benefit our founders. Since Velocity customers already use Insights on a daily basis, we integrated ChatGPT with the same interface that they leverage for driving business decisions.” stated Abhiroop Medhekar, Co-founder and CEO of Velocity.in, while discussing the product, as stated in their website blog.

Needless to say, The 2022 sensation ChatGPT, a language model developed by Open AI, stunned everyone with its human-like language generation capabilities. Created with over 175 billion parameters, the model’s size makes it the largest language model ever created. And all of its features makes it an irresistible choice for researchers and developers in the field of natural language processing.

Talking about Velocity Insights and the ChatGPT integration, Mohit Mohapatra, CEO and Founder of Naturepro said, “Since its launch Velocity Insights has helped us monitor revenue and marketing spends. Now with the ChatGPT integration I am also able to leverage AI as a personal assistant whenever I need help with my business. For example, I have been leveraging the integration for writing copy as well as collating answers to questions related to performance marketing on a daily basis.”

Building data analytics capabilities requires heavy investments in terms of hiring and licensing costly software – while it’s not difficult for large business conglomerates, it certainly is expensive for small and medium businesses especially direct-to-consumer brands.

Having sent over 6 lakh analytics reports in a short span of 1.5 years, Velocity Insights crops out all differences and provides equal access to analytics for all Indian eCommerce businesses—leveraging India’s largest eCommerce database.

It’s safe to say that Lexi serves, and serves well.

Want to try Lexi today? Sign up for Velocity Insights and use Lexi for free for your D2C brand.

About Velocity.in:

Velocity was launched in early 2020 by IIT Bombay graduates Abhiroop Medhekar, Atul Khichariya, and Saurav Swaroop. The founding team has a strong background in India’s financial services and tech startup ecosystem. They previously worked in companies like Elevation Capital (earlier SAIF Partners), McKinsey, Acko Insurance, and HackerRank. Velocity is their second tryst with entrepreneurship. The trio had earlier worked together at Taskbob, a managed marketplace for high-quality home services.

For more information, please visit: https://www.velocity.in