The investment strengthens Bajaj Finance’s AI push, with TrueFan AI’s technology already being used to create personalised videos for customer engagement and dealer enablement
TrueFan AI is a Delhi NCR-based AI video platform that helps businesses create personalised videos using AI avatars and celebrities
Bajaj Finance, the NBFC arm of Bajaj Finserv, has acquired a 5% stake in Delhi NCR-based AI video generation platform TrueFan AI. The company didn’t disclose the investment it made to purchase the stake.
The investment is part of Bajaj Finserv’s strategic applied research and innovation initiative, Finserv Intelligence. The initiative aims to develop and support high-tech, scalable solutions built in India for domestic and global markets.
Bajaj Finance has been a customer of TrueFan for a while, having deployed the startup’s platform at scale to generate millions of personalised videos for customer engagement and dealer enablement initiatives.
The partnership also aligns with Bajaj Finance’s broader strategy of deploying AI-led automation and personalisation across its digital ecosystem, it said in a statement.
“As a FINAI company, we are deploying AI at scale across the company. Our investment in TrueFan AI follows sustained, production-scale use of its technology, giving us first-hand experience of the platform’s capabilities and its execution,” said Rajeev Jain, vice chairman and managing director of Bajaj Finance.
With the investment, Bajaj Finance will gain TrueFan AI’s AI video skills to augment its marketing, videos, multilingual communication, employee training as well as their onboarding.
The investment comes months after TrueFan AI raised $10 Mn in a Series A round led by Baring Private Equity Partners India and Z3Partners, with participation from IAN Alpha Fund and 3Lines Venture Capital.
Overall, the startup had raised close to $15 Mn prior to this investment.
he fresh capital will allow TrueFan to expand its enterprise customer base, enter markets across Southeast Asia and the Middle East, and scale its presence in the US, the startup said in June.
Founded by Nimish Goel and Devender Bindal in 2020, TrueFan AI started as a celebrity engagement platform before shifting its focus to enterprise AI in 2024. It now helps companies create personalised videos using celebrities and AI avatars.
The startup claims to serve more than 100 enterprise clients operating across sectors including finance, healthcare, consumer goods and media. Its clients include HDFC Bank, Cipla, BharatPe and Goibibo.
TrueFan AI is also developing real-time AI video agents for tasks such as customer support, sales, onboarding and product discovery. It has more than 110 employees and says its infrastructure can generate up to 5 Lakh videos a minute.
Bajaj Finserv’s Startup Push
The investment also marks an expansion of Bajaj Finserv’s efforts to back technology startups through Finserv Intelligence. In March, It plans to invest up to ₹2,000 Cr over five years in startups and early-stage companies through the initiative. The focus areas include AI, cybersecurity, quantum technologies, fintech and consumer technology.
Finserv Intelligence operates via making investments, academic partnerships and in-house research, with plans for R&D labs, centres of excellence, venture-led models and a Scholars-in-Residence programme.
Bajaj Finserv has also partnered with IIT Bombay to establish a joint research centre focused on AI, cybersecurity and quantum technologies.
The company said the initiative would focus on building high tech, low cost and scalable solutions from India for domestic and global markets.
The latest investment comes as Bajaj Finserv looks to deepen its presence in India’s technology ecosystem. Earlier this year, chairman Sanjiv Bajaj said the group planned to invest ₹400 Cr to ₹450 Cr in AI-focused ventures in FY27 through a combination of its AI-focused fund and balance sheet.
The company is increasing its focus on AI as India’s artificial intelligence sector expands.
At the heart of this push is India’s rapidly growing AI market, which is projected to reach $126 Bn by 2030 as the country moves from AI pilots to production-first, workflow-native systems.