Vernacular.ai, a Bengaluru-based SaaS startup, announced it has raised $5.1 million in its Series A funding round led by Exfinity Ventures and IAN Fund. Kalaari Capital, AngelList and LetsVenture also participated in the round.
The company said it will use the newly raised capital to enter Southeast Asia and the US and invest in R&D to further enhance its proprietary artificial intelligence-based voice automation platform.
“This Series A round will be used to fund the company’s expansion outside India and to drive innovation through rigorous R&D across multiple verticals of our business,” Sourabh Gupta, Co-Founder and CEO at Vernacular.ai., said. “With situations like the one we are in today, contingency plans have significantly increased dependency on voice automation, and we feel well-placed to serve this need, globally.”
Raman Roy from IAN fund, who will also be joining the board of the company, said social distancing and digitisation are key in the “new normal.” “Vernacular helps enterprises to engage and much more effectively and efficiently with their customers,” he said.
Founded in Bangalore by Sourabh Gupta and Akshay Deshraj, both IIT Roorkee graduates, Vernacular.ai helps accelerate engagement strategy, and utilise speech recognition and Natural Language Understanding (NLU) technology to provide customer experiences across diverse sectors.
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