Vernacular.AI raised $5.1 Million in Series A Funding Round From Exfinity Ventures

Vernacular.ai, an Artificial Intelligence-based SaaS startup, has now secured $5.1 Million in the Series A funding round, reports Economic Times.

The round was backed by the Kalaari Capital and Exfinity Ventures with the participation of IAN Fund, AngelList, and LetsVenture.

Vernacular.ai is founded by Sourabh Gupta and Akshay Deshraj in the year 2016. It offers an AI-based voice automation platform – VIVA – which helps to accelerate engagement strategy and utilize cutting edge speech recognition and NLP (Natural Language Processing) technology to offer superior customer experience across the different sectors.

Executive Opinion

In the ET report, Sourabh Gupta, Co-Founder and CEO at Vernacular.ai, said, “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. 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.”

Vernacular.AI's Latest Funding

The company, as of now, has plans to use the new funds for the expansion into the US and Southeast Asia and towards Research & Development to further enhance its AI-based voice automation platform.

Post funding, Raman Roy, the Managing Partner at IAN Fund, will join as the Vernacular.ai Board of Directors, notes the report.