London-based PolyAI has raised a $86m Series D round to develop its conversational AI for businesses, backed by Nvidia’s VC arm NVentures.
Founded in 2017, PolyAI builds AI voice agents that it says can hold human-like conversations to handle complex conversations with customers. Customers include the likes of FedEx, Marriott, Unicredit and Foot Locker.
The funding round was led by Georgian, Hedosophia and Khosla Ventures. NVentures joined other participating investors Sands Capital, Squarepoint Ventures, Citi Ventures and Point72 Ventures.
The UK’s British Business Bank also invested £15m as part of the raise. UK chancellor Rachel Reeves said the government was investing in “companies like PolyAI so we can grow the economy and create good jobs.”
PolyAI’s raise follows the company’s $50m Series C round in May last year, from Nvidia, Khosla, Point72 and Hedosophia.
PolyAI says its agents can handle tasks like authentication, bookings and payments. The funding will be used to further develop the proprietary tech behind its agents.
The UK’s AI companies, including PolyAI, have seen a jump in investment this year. They’ve raised €3.9bn so far in 2025, according to Sifted data, significantly more than the €1bn picked up across the whole of 2024.
