MCash and SiCepat Invest in Lenna.ai Startup

PT SiCepat MCash Indonesia, a joint venture of PT M Cash Integrasi Tbk (IDX: MCAS) and PT SiCepat Ekspres Indonesia (SiCepat), invested in PT Sinergi Digital Teknologi (Lenna.ai) by acquiring a 40% stake.

Lenna.ai is a startup that focuses on developing AI technology, with a product in the form of a chatbot. Prior to this investment, Lenna.ai had received investments in angel rounds and seed rounds from undisclosed investors.

Lenna.ai was founded in 2017 by Alen Boby. In addition to chatbots, they are also developing an omnichannel platform to make it easier for businesses to manage multiple instant messaging accounts in one centralized channel.

These products are sold with an API and no-code integration model, allowing non-programmer users to try out their services.

The use cases are also quite broad. In addition to customer service that is generally provided by chatbot providers in Indonesia, Lenna.ai also accommodates wider service features such as “Smart Parking System with Chatbot”.

Become an Effective Business Development Solution

This feature is a solution to simplify and accelerate digital technology-based public services for the wider community who have difficulty finding a parking space.

The latest AI technology infrastructure owned by Lenna.ai has succeeded in becoming an effective business development solution from the Customer Relation Management perspective by making it easier for customers to obtain information about company services, get assistance, make transactions, and make customers more involved with brands and companies.

Coupled with other supporting features such as sales campaigns, and ticketing, all of which are connected to Chatbots supported by AI technology.

Managing Director of M Cash Integration, Jahja Suryandy said that his party was enthusiastic about the entry of Lenna.ai into the MCAS ecosystem.

“We are optimistic that the investment made by MCAS Group will make the growth of AI technology built by Lenna.ai more advanced and grow more progressive. We believe that the MCAS Group’s extensive business network can accelerate new initiatives in the realm of increasingly innovative technology,” said Founder & Lenna.ai CEO Alen Boby.

He also added, “We really hope to be able to develop the pace of business development through various collaborations that will be carried out with the MCAS Group ecosystem, to be able to provide complete and advanced solutions for our partners.”

Meanwhile, Managing Director of M Cash Integration Jahja Suryandy said, “Through this investment, we believe the MCAS Group’s AI technology line will be even stronger. We are committed to continuing to develop a massive digital infrastructure, accelerate AI penetration into business digitization and synergize it with various services been there.”

Chatbot Potential For Business

Technology products like Lenna.ai are actually quite widespread in Indonesia. For example, the chatbot builder platform developed by Kata.ai. There is also an omnichannel chat platform from Qiscus, and so on.

The potential for adoption of chatbot services by businesses is increasing as the consumer trend transitions to increasingly digital. Chatbots provide fast and comprehensive information services.

According to an Insider Intelligence report, it is projected that the global chatbot market size will reach $142 billion by 2024. However, there are fundamental challenges that innovators must solve.

Chatbots will rely heavily on NLP (Natural Language Processing) capabilities, simply in the form of intelligent systems tasked with understanding what customers write.

NLP development is one of the most challenging aspects that chatbot innovators encounter, especially in the Indonesian context. Startups such as Kata.ai, Bahasa.ai, Bot MD, Prosa.ai are investing heavily to work on the system.

In addition to meeting general business goals, several startups have also created chatbot innovations for more specific products. For example, Prixa has done with healthcare chatbots; or HiPajak with a tax reporting consultant chatbot.