India Deal Monitor: Vernacular.ai raises $5.1m in Series A round and more updates

By Pramugdha Mamgain

May 6, 2020

Bengaluru-based artificial intelligence startup Vernacular.ai has raised $5.1 million in its Series A round of funding led by Exfinity Ventures and IAN Fund.

Other investors that participated in the round included Kalaari Capital, Angel List, and LetsVenture.

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.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
Vernacular.aiBengaluru5.1 millionSeries AExfinity Ventures, IAN FundKalaari Capital, Angel List, LetsVentureSoftware
CloverBengaluru923,482DebtAlteria Capital-AgTech
PhableBengaluru1 millionPre-Series AInflection Point Ventures-HealthTech
VarthanaBengaluru15 millionDebtU.S. International Development Finance Corporation (DFC)-Financial Services
MintoakMumbai2 millionPre-Series APravega Ventures-FinTech

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW