Devnagri, a Noida, India-based B2B SaaS-based translation startup, raised $600,000 in a seed round from Venture Catalyst.
Inflection Point Ventures (IPV), and Co-investors that participated in the funding include Mitesh Shah (IPV-First Port Capital), Rohit Chanana (Sarcha Advisors), Nimesh Kampani (Trica), Sameer Karulkar (Coverpage Ventures Advisory LLP), Prashant Sharma (Facebook), Karan Bhagi (HUL), and Deepak Sharma (Kotak Bank).
The seed funding round will be utilized to strengthen its technology and scale its operations to help B2B sectors create more vernacular language content for end-users.
With the latest infusion of funds, the company intends to increase its accuracy in Machine Translation and scale its operations to target businesses in sectors like e-commerce, BFSI, and publishers who depend on vernacular growth.
Company: Devnagri AI Pvt Ltd
Raised: $600.0K
Round: Seed round
Funding Month: October 2021
Lead Investors: Venture Catalyst
Additional Investors: Inflection Point Ventures (IPV), Mitesh Shah, Rohit Chanana, Nimesh Kampani, Sameer Karulkar, Prashant Sharma, Karan Bhagi, and Deepak Sharma
Company Website: https://www.devnagri.com/
Software Category: AI-powered human translation platform
About the Company: Devnagri is an AI-powered human translation platform to help businesses reach 1B + Indian Internet users in their regional languages. Devnagri combines Neural Machine Translation with machine learning and a community to power translations. Devnagri AI-human solution is delivering enterprise business translation at scale. Its AI-human combination can help businesses scale their operations anytime, in any language with up to 50 percent reduced cost, real-time delivery tracking with 80 percent reduction in translation time, and fivefold faster than professional translation. Devnagri Platform has an extensive and continuously growing community; currently having 5000+ translators.
Source: https://www.entrepreneur.com/article/391974