Indian language translation platform Devnagri raises $ 600,000 in first round
B2B translation platform in SaaS mode, Devnagri recently raised $ 600,000 from Business catalyst, Inflection point companies and other co-investors as part of the roundtable. The latest investment will help businesses reach over 1 billion Indian internet users in their regional languages using AI-powered human translation on a large scale.
Led by Dr Apoorva Ranjan Sharma, the seed funding round will be used to strengthen its technology and expand operations to help B2B industries create more vernacular content for end users. Co-investors who participated in the financing include Mitesh Shah (IPV-First Port Capital), Rohit Chanana (Sarcha Advisors), Nimesh Kampani (Trica), Sameer Karulkar (Coverpage Ventures Advisory LLP), Prashant Sharma (Facebook, Country Lead – Video), Karan Bhagi (HUL, GM – eCommerce) & Deepak Sharma (CDO – Kotak Bank).
An original idea from Nakul Kundra and Himanshu Sharma, Devnagri was created with the vision to make the Internet accessible to 90% of Indians and to solve the problem of “lack of content in Indian languages” with the help of technology. The platform combines neural machine translation with machine learning and a community to fuel translations. Its AI-human combination can help businesses scale their operations anytime, in any language, with costs up to 50% reduced, real-time delivery tracking with an 80% reduction in time translation and 5 times faster than professional translation.
“There is a strong need for content in Indian languages available on the Internet, which helps Indians to use technology (be it entertainment, news, education, movies, etc.) in their life. respective language. With our current funding cycle, we intend to expand our operations to tap B2B customers and enable them to create more local content (in Indian language) to reach end users in Tier II and III cities ”, Kundra said.
Dr Apoorva Ranjan Sharma, Chairman and Co-Founder of Venture Catalysts, said, “The size of India’s vernacular and translation market is worth $ 53 billion, which currently includes the Ed-Tech, E-Commerce, Publishing and OTT industries. With 100 Cr Indians from Tier II and Tier III cities expected to join the internet (due to smartphones and affordable data), the availability of content in Indian languages is only 0.1% and less than 10% of Indians speak English. Devnagri is confident to bridge this huge gap by using machine translation. As one of the leading Indian startups in the NLP industry, the company aligns with Digital India and Atma Nirbhar Bharat’s vision to enable the Internet in Indian languages. They are showing immense exponential growth, and we wish them success on their journey. “
With the latest injection of funds, the company intends to increase its accuracy in machine translation and expand its operations to target businesses in industries like e-commerce, BFSI, and publishers that depend on vernacular growth. . A business started up to date, Devnagri is currently focusing on the electronics technology industry, solving various use cases.
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