NTT DOCOMO Ventures, the venture capital arm of Japan’s mobile operator NTT DOCOMO, has made a strategic investment in Inbenta Technologies, a Silicon Valley-based provider of artificial intelligence-powered natural language processing (NLP) products.
The company will use the funds to “enhance its product suite and accelerate business growth.”
NTT DOCOMO Ventures aims to strengthen the collaboration between Inbenta and NTT Communications. It is also looking to bring AI and NLP technology to the Japanese market, the release noted.
The investment follows Inbenta’s business partnership with NTT Communications, a division of NTT Corporation, which launched AI-powered chat and FAQ search services in the Japanese market.
Inbenta claims its products are used by over 250 enterprises from the banking, insurance, telecom, retail, travel, technology, and transportation industry.
It’s AI and NLP products are used on chatbots for messaging, transactional intelligence, e-commerce search, e-mail and social media management.
The firm says, it can automate over 300 million real-time customer interactions per year in over 25 languages.
Inbenta CEO Jordi Torras said, NTT DOCOMO Ventures will bring both capital and its experience in key markets that Inbenta operates in including Japan.
NTT DOCOMO Ventures focuses on investments in the ICT space mainly fintech, AR/VR, security, media & content and big data.
Earlier in the year, NTT DOCOMO Ventures was seen leading a seed investment in Skuchain, a California-based blockchain technology startup, and Otonomo, a neutral automotive data services platform from Israel.