PlayAI Raises $21 Million in Seed Round

by Kay Aloha Villamor in November 26th, 2024

PlayAI, a Palo Alto, CA-based conversational voice AI startup, has raised $21 million in seed funding. 

Investors 

The round was led by Kindred Ventures and 500 Global, with support from Race Capital, Y Combinator, Soma Capital, Pioneer Fund, TRAC, and others. 

Kindred Ventures is an early-stage venture capital firm focused on investments in software, internet, and deep technology. Founded in 2014, the firm is based in San Francisco, California. 

500 Global (formerly 500 Startups) is a venture capital firm managing $2.3 billion in assets under management (AUM), investing in founders with a global outlook and building fast-growing startups. 

Steve Jang of Kindred Ventures has joined as a board observer. 

PlayAI Use of Funds 

The funding will accelerate PlayAI’s advancements in generative voice AI models and its voice agent platform. 

About PlayAI 

Founded by Mahmoud Felfel and Hammad Syed, PlayAI develops cutting-edge AI speech models and an AI voice agent platform. It empowers developers to build voice applications using custom large language models (LLMs) trained on diverse speech styles like podcasts, storytelling, and business conversations. With state-of-the-art voice cloning in multiple languages and accents, their low-latency models are accessible via text-to-speech APIs. To date, the company has served nearly 40,000 customers. 

Funding Details 

Company: PlayAI 

Raised: $21.0M 

Round: Seed Round

Funding Date: November 2024 

Lead Investors: Kindred Ventures, 500 Global 

Additional Investors: Race Capital, Y Combinator, Soma Capital, Pioneer Fund, TRAC 

Company Website: https://play.ai/  

Software Category: Conversational Voice AI 

Source: https://www.businesswire.com/news/home/20241125475299/en/ 

 


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