Vernacular.ai, an AI-first SaaS business, has received a Series A investment of $5.1 million, led by Exfinity Ventures.
Kalaari Capital, AngelList, IAN Fund and LetsVenture also participated in the round.
The fresh capital will be used to fund the company’s global expansion into South-East Asia and the US, and towards R&D to further enhance its proprietary AI-based voice automation platform.
Sourabh Gupta and Akshay Deshraj, two IIT Roorkee graduates, founded Vernacular.ai in 2017 in Bengaluru. Its founding team members include Prateek Gupta, Pravendra Singh and Abhinav Tushar.
Vernacular.ai said its AI-based, voice automation platform, VIVA, helps automate 80 percent of calls handled by a call centre and reduces agents’ average call handling time by 30 percent.
This is done by utilising speech recognition and Natural Language Understanding (NLU) technology to provide superior customer experiences across diverse sectors to enterprise clients.