Chennai-based speech recognition solutions startup Uniphore Software Systems raises undisclosed amount of funding from Infosys co-founder Kris Gopalakrishnan, in a Series A round of funding. Existing investors IDG Ventures India, India Angel Network (IAN), Yournest Fund and Stata Venture Partners also participated in this round of funding.
Just yesterday, we reported that Infosys Is on verge of shortlisting six Indian product software startups to make an investment under its $500mn Innovation Fund for startups, Uniphore is probably first among those 6 startups.
Uniphore, which was incubated at IIT Madras, had earlier raised USD 1 million in an angel round of funding, where it got a grant of USD 100,000 from National Research Development Corporation in 2008.
“The current fund-raising will fuel Uniphore’s global expansion and product and core technology development plans,” Umesh Sachdev, co-founder and chief executive, Uniphore Software Systems told PTI.
Founded in December 2014 by Ravi Saraogi and Umesh Sachdev, Uniphore’s solutions uses speech as a medium for human-machine interaction and allows any software application to understand and respond to natural human speech.Uniphore’s solutions include voice biometrics, virtual assistant and speech analytics.
The startup claims to have worked with over 70 enterprise customers and served over 4 million end users. It has offices in India, the Philippines, and the UAE.
Kris Gopalakrishnan, Infosys Co-Founder and investor in Uniphore said, “Continuing on my theme of backing inclusive innovations, I am optimistic of the success of Uniphore. Man-Machine communication is one of the more complex problems to solve. Uniphore’s vision lends possibility of finding a solution to this very difficult problem and the company has already made substantial progress.”
Uniphore has pioneered the development of integrated and smart speech-recognition applications and boast a roster of high profile, satisfied customers across many industries, including Banking, Insurance, BPOs, Agriculture, Lending/MFI, Heathcare and Government.
Uniphore Solutions, is headquartered in IIT Madras Research Park, Chennai. Uniphore is also one of the Deloitte Technology Fast 50 company in India for the year 2014 and has been profitable from the second year of its operation.