Almonds Ai, a leading AI-driven loyalty and rewards platform, has raised INR 16 crore in a seed funding round. The investment was led by Haldiram’s promoters and JITO Incubation and Innovation Foundation (JIIF), with additional backing from Venture Catalysts, Ever Grow Capital, Nine ALPS, KLJ Group’s Hemant Jain, and OfBusiness co-founder Nitin Jain.
Funding Utilization and Expansion Plans
Almonds AI will use these funds to improve its research and development facility and increase its workforce. The company will focus on enhancing AI-driven product capabilities. Almonds AI is targeting international expansion in the Middle East, North Africa (MENA), and Southeast Asia.
CEO Abhinav Jain confirmed that part of the investment will support the development of AI agents and large language models (LLMs). These technologies will drive personalized loyalty solutions, improving engagement strategies for brands and their distribution networks.
AI-Powered Loyalty Transformation
Founded in 2020 by Abhinav Jain and Apurv Modi, Almonds Ai specializes in AI-based loyalty programs tailored for distribution-led businesses. Its solutions serve a diverse range of channel partners, including retailers, dealers, mechanics, drivers, and painters. By leveraging artificial intelligence, the company aims to modernize partner engagement, education, and retention strategies.
Its key offerings include the Channelverse ecosystem and Green Loyalty program. Channelverse shifts brands from traditional loyalty programs to AI-driven engagement models. Green Loyalty integrates sustainability, enabling businesses to incorporate eco-friendly rewards.
Market Position and Global Strategy
Almonds Ai has a strong presence in India, working with over 100 distribution-led businesses and engaging more than 6 million channel partners. Notable clients include Coca-Cola, Haldiram’s, and PropTiger.
As part of its global push, the company has entered Dubai and secured a partnership with a major HoReCa (Hotel, Restaurant, and Catering) distributor in Singapore. Dubai was chosen as a regional base due to its strategic importance in the Gulf Cooperation Council (GCC) market and alignment with Indian business practices.
Competition in AI-powered loyalty management is intensifying, with players like Capillary Technologies, EasyRewardz, and Channelkonnect vying for market share. Almonds Ai’s focus on AI-driven engagement and sustainability differentiates it in the crowded space.
Financial Performance and Growth Outlook
Almonds Ai has shown strong financial growth. In FY23, it recorded INR 19.2 crore in revenue with a net profit of INR 2.3 crore. For FY24, revenue surged to INR 35 crore with a 12% EBITDA margin. The company targets INR 200 crore revenue in FY25, aiming for a 15% EBITDA margin.
Investor Confidence and Industry Potential
India’s B2B channel partner loyalty market is valued at INR 24,000 crore and is expanding at 15% annually. Investors recognize AI’s potential to transform brand-partner relationships.
Haldiram’s Chairman and Managing Director, Manohar Lal Agarwal, expressed strong confidence in the company’s vision. “Almonds Ai’s innovative approach is redefining channel engagement. We believe in their ability to deliver scalable, AI-powered solutions.”
JITO Incubation and Innovation Foundation’s COO, Sagar Gosalia, echoed similar sentiments. “Almonds Ai is building AI solutions that enhance efficiency and engagement. This investment will support their expansion and strengthen their impact across industries.”
Conclusion
Almonds Ai’s seed funding round marks a critical step in its growth journey. Backed by key investors and a robust expansion strategy, the company is poised to scale its AI-driven loyalty solutions across global markets. As demand for AI-powered engagement models rises, Almonds Ai is set to play a key role in reshaping channel partner loyalty.
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