About Ritual
Ritual is a company based in New York (United States) founded in 2023 by Niraj Pant and Akilesh Potti. It operates as a API-as-a-Product. Ritual has raised $25 million across 1 funding round from investors including Accel, Anagram and dao5. Ritual offers products and services including Ritual AI Integration. Ritual operates in a competitive market with competitors including Bitfury, Chain Reaction, Litecoin Project, KnCMiner and BTQ, among others.
- Headquarter New York, United States
- Founders Niraj Pant, Akilesh Potti
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Sectors
Technology
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Email
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Phone
*********
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$25 M (USD)
in 1 rounds
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Latest Funding Round
$25 M (USD), Series A
Nov 08, 2023
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Investors
Accel
& 16 more
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Employee Count
Employee Count
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Products & Services of Ritual
Ritual offers a comprehensive portfolio of products and services, including Ritual AI Integration. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
AI integration for protocols and smart contracts provided.
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Funding Insights of Ritual
Ritual has successfully raised a total of $25M through 1 strategic funding round. The most recent funding activity was a Series A round of $25 million completed in November 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series A — $25.0M
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First Round
First Round
(08 Nov 2023)
- Investors Count 17
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Nov, 2023 | Amount | Series A - Ritual | Valuation | Archetype |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Ritual
Ritual has secured backing from 17 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Accel, Anagram and dao5. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Tech startups are funded by Archetype venture capital firm.
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Founded Year | Domain | Location | |
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Accomplice is engaged in venture capital investments for startups.
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Founded Year | Domain | Location | |
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Robot Ventures is associated with technology or robotics.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Ritual
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Ritual
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ritual Comparisons
Competitors of Ritual
Ritual operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Bitfury, Chain Reaction, Litecoin Project, KnCMiner and BTQ, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cryptocurrency mining solutions are provided through AI and blockchain platforms.
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| domain | founded_year | HQ Location |
Hardware acceleration is offered for blockchain infrastructure security.
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| domain | founded_year | HQ Location |
Litecoin operates as an open-source peer-to-peer digital currency network.
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| domain | founded_year | HQ Location |
Bitcoin mining hardware, chips, and blockchain services are offered.
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| domain | founded_year | HQ Location |
A post-quantum blockchain scaling platform is provided for asset safeguarding.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Ritual
Frequently Asked Questions about Ritual
When was Ritual founded?
Ritual was founded in 2023.
Where is Ritual located?
Ritual is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Ritual a funded company?
Ritual is a funded company, having raised a total of $25M across 1 funding round to date. The company's 1st funding round was a Series A of $25M, raised on Nov 08, 2023.
What does Ritual do?
Ritual is engaged in developing solutions for integrating AI models into protocols, applications, and smart contracts with minimal coding effort. The company operates within the blockchain and technology sectors, providing tools to enhance functionality through artificial intelligence. Their offerings are designed to support various digital platforms seeking advanced AI capabilities.
Who are the top competitors of Ritual?
Ritual's top competitors include Bitfury, Chain Reaction and BTQ.
What products or services does Ritual offer?
Ritual offers Ritual AI Integration.
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