Vernacular.ai secures $25 million funding from WestBridge Capital

Artificial Intelligence-based voice startup Vernacular.ai has secured a Series B funding of $25 million from investment firm WestBridge Capital at a valuation of $100 million, according to sources.

 

With this, the startup has raised over $30 million in funding, so far. 

 

The Bengaluru-based platform had in May last year raised $5.1 million in a Series A funding round led by Exfinity Ventures and IAN Fund. Kalaari Capital, AngelList, and LetsVenture had also participated in this round. Vernacular.ai was also a part of Kalaari Capital’s accelerator programme Kstart and had received an undisclosed amount of seed funding from Kstart Capital in 2017.

 

“The fresh funds would be utilised for geographical expansion in the US and South-east Asian markets and to strengthen the technological backbone of the company,” said a person familiar with the matter.

 

WestBridge Capital manages over $3 billion of capital, which focuses primarily on investments in India. Emails sent to Vernacular.ai and WestBridge Capital remained unanswered.

 

Founded by IITians Sourabh Gupta, and Akshay Deshraj in 2016, Vernacular.ai aims to become a leading voice automation system globally. It has clients across BFSI, hospitality, F&B and other industries and has two unique products: VIVA and VASR.