Vernacular.ai, a multilingual artificial intelligence platform for businesses, has raised funding from Kstart while hyperlocal delivery startup Genie has secured $250,000 from a group of HNIs.
Chatbot firm Vernacular.ai gets funding from Kstart
Vernacular.ai, a multilingual artificial intelligence platform for businesses, has secured an undisclosed amount of funding from Kstart, the seed program of venture capital firm Kalaari Capital.
“The challenges of Indian languages are very different from English. Transliteration in different scripts, identification of context for each language and wide usage of a hybrid combination of multiple languages are complex NLP problems. We are developing our own in-house technology to solve this problem in collaboration with leading industry [leaders] and academia,” said Akshay Deshraj, co-founder of Vernacular.ai.
Founded in 2016 by IIT-Roorkee graduates Sourabh Gupta, Akshay Deshraj and Manoj Sarda, Vernacular.ai had launched a B2C product earlier this year called Aisha – a personal assistant in Hindi for people living in tier-2 and tier-3 areas.
Hyperlocal delivery startup Genie gets funding from HNIs
Genie, a Chennai-based hyperlocal delivery startup, has received $250,000 in funding from a group of unnamed high net-worth individuals (HNIs).
The company will resume its operations with the funding and also focus on attaining scale and being operationally profitable in a year, it said in a statement.
“With the investment, we are going to try solving the last-mile logistics problem with a lot more courage,” said Rakesh Mani, co-founder of Genie.
Genie had decided to shut down the business on March 31 due to lack of funding.
The company was started in 2015 by Mani, Sreekesh Krishnan and Parth Shah. It helps businesses plan and execute deliveries according to parameters, including ticket size and distance.