industry spotlight

Voice Commerce

Step into the voice commerce industry, where tech revolutionizes how we shop with just our voice.

The future voice of commerce

The voice commerce industry is picking up speed due to better voice assistant access for people with disabilities and increased online shopping since the pandemic. Moreover, the sector attracts significant investor interest, shaping the future of hands-free shopping.

Why it matters:

This shift has encouraged startups to enter the growing market and capitalize on:

  • Voice-first marketplaces for people with disabilities
  • Conversational AI for product recommendations
  • Voice-based customer support app with NLP
  • Voice-activated recipe assistant with shopping integration

Between the lines:

Be aware of challenges including regulatory hurdles, limited voice assistant capabilities, security trust issues, and competition with e-commerce giants.

We’ve worked with numerous voice commerce startups and mastered creating businesses that captivate investors

$3B+
Secured in funds
600+
Ventures advanced
80+
Industries explored

What we do:

We provide fundraising assistance, manage M&A deals, and deliver strong market blueprints and persuasive pitch decks.

Go deeper:

Explore our voice commerce market research to find useful insights on funding, market potential, and challenges.

3x growth
The global voice commerce market is set to rise 3 times by 2032.

 

30%
Consumers have already used voice assistants for shopping.

Propelled by progress in AI and a growing demand for accessible hand-free shopping
3/10

American internet users with disabilities rely on voice assistants for online shopping.

33%

US households have a smart speaker with a voice assistant.

48%

Consumers believe voice search and voice commerce will speed up product searching.

Leading voice commerce venture capital firms

Write to us to know more

Voice Commerce Startup Challenges

Before disrupting the voice commerce market, address the following challenges.

Security and privacy considerations:

Like any technology that collects personal data, voice-activated shopping raises security and privacy concerns.

Why it matters:

Difficulty in gaining security may lead to:

  • Regulatory non-compliance and potential fines
  • Loss of investor confidence
  • Damaged reputation

What it takes:

  • Prioritize transparency and user control
  • Implement robust security protocols to protect user data
  • Comply with data privacy regulations
  • Collaborate with cybersecurity experts to conduct thorough security assessments and penetration testing

Competitive market:

Tech giants with deep pockets are already in the voice commerce game. Investors might hesitate if a startup competes with established players that have more resources.

Why it matters:

High competition leads to:

  • Low brand awareness
  • Difficulty acquiring customers
  • Limited market share

What it takes:

  • Create a unique selling proposition to demonstrate what differentiates your product/service
  • Build a strong visual brand identity and convey your brand values
  • Use targeted marketing to maximize the impact and efficiency of your campaigns

Limited market traction:

Since voice commerce is still in its early stages, it may be difficult for startups to demonstrate significant market traction.

Why it matters:

Problems with gaining traction mean:

  • Reduced credibility
  • Uncertain scalability
  • Limited funding
  • Difficulty attracting top talent

What it takes:

  • Pilot programs and case studies to demonstrate positive impact on early adopters
  • Outline a realistic roadmap to scaling
  • Develop a compelling GTM strategy
  • Demonstrate team expertise: to prove they are capable of overcoming technical hurdles and building a successful voice commerce platform

Financial limitations:

Voice commerce startups face the challenge of standard yet high-tech development costs for advanced NLP (Natural Language Processing), accurate voice recognition, powerful AI for personalization, and robust cybersecurity measures.

Why it matters:

Funding limitations result in:

  • Reduced talent acquisition
  • Slower innovation
  • Limited marketing reach

What it takes:

  • Build a strong GTM strategy
  • Develop a solid business model
  • Create an investor-appealing deck
  • Implement an effective investor outreach

FAQs

How attractive is the industry to potential voice commerce investors?

The growing interest in voice-based services, like conversational AI for product recommendations or voice-first marketplace, makes the industry a magnet for investors.

If you are a voice commerce startup, how easy is it to raise funds today?

Voice commerce is booming, but investors are picky now due to the economic slowdown. They want to see a clear advantage and a robust plan before investing.

How long does it take to create a pitch deck and financial model for a voice commerce startup?

Our team typically completes the pitch deck and financial model for voice commerce startups within two to three weeks. The timeline may extend to a month, depending on project complexity and workload. For specific details, please contact us.

What are the key mistakes in pitch decks in voice commerce startups?

Many decks miss essential data to showcase a clear market positioning. They also lack a persuasive investment story. If you don’t find a unique angel of how to present your solution effectively, you lose chances to fundraise successfully. One more flaw is not mentioning competitors. If you don’t know your competitors, you don’t know the market well enough.

How competitive is the voice commerce market?

It’s a highly competitive industry. Although top dogs like Amazon and Google lead, niche players targeting specific demographics or products may also gain market share.

What services do you provide for investors looking to invest or already investing in the voice commerce sector?

We help investment funds evaluate voice commerce projects through comprehensive due diligence, ensuring they back profitable initiatives. Additionally, we roll out full-fledged fundraising support for our partner fund’s associated companies.

Do you provide voice commerce startup M&A support?

Sure thing! Our team provides comprehensive M&A support within the voice commerce sector and beyond. Our service package includes searching for the most relevant deals, assessing their value, and ensuring smooth collaboration post-deal.

Do you make intros to voice commerce startup VCs?

We connect you with relevant voice commerce VCs, evaluate the funding round size, team, and product, and support your collaboration with investors from start to long-term partnerships.

Do you have data or research available to purchase on the voice commerce market?

We provide market intelligence for the voice commerce industry, featuring industry reports, competitor assessments, and market research. Using data from trusted sources, we help you understand the voice commerce landscape, its complexities, and competitive dynamics.

Which growth stage of companies have you worked with in the past?

We provide growth and fundraising support for voice commerce ventures, from Pre-Seed through Series C and beyond.

Start your growth journey with us

Stepping into the voice commerce landscape? We know the way. From end-to-end fundraising support to outsourced M&A guidance and growth blueprinting, Waveup will help you accelerate your journey to success. Drop us your email, and let's talk!

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