The startup said, it will use the capital to fund its expansion into Southeast Asia and the US, and towards R&D to further enhance its proprietary AI-based voice automation platform.
Founded in 2016 by IIT Roorkee graduates, Sourabh Gupta and Akshay Deshraj, Vernacular.ai provides an AI-based voice automation platform – VIVA – which helps accelerate engagement strategy, and utilise speech recognition and natural language understanding (NLU) technology to provide superior customer experiences across diverse sectors.
Vernacular.ai was part of KStart, Kalaari Capital’s accelerator programme. It had secured an undisclosed amount in seed funding from Kstart Capital in 2017.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India from May 4-May 6, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Vernacular.ai||Bengaluru||5.1 million||Series A||Exfinity Ventures, IAN Fund||Kalaari Capital, Angel List, LetsVenture||Software|
|Phable||Bengaluru||1 million||Pre-Series A||Inflection Point Ventures||-||HealthTech|
|Varthana||Bengaluru||15 million||Debt||U.S. International Development Finance Corporation (DFC)||-||Financial Services|
|Mintoak||Mumbai||2 million||Pre-Series A||Pravega Ventures||-||FinTech|