Vernacular.ai, an artificial intelligence and multilingual Chatbots platform for enterprise get seed investment from Kstart, the seed program of Venture Capital firm Kalaari Capital.
The Bangalore-based startup was co-founded in 2016 by 3 IIT Roorkee alumnus Sourabh Gupta, Akshay Deshraj and Manoj Sarda. The startup is currently working with financial institutions to develop multilingual chatbots agents and enhance customer engagement and satisfaction.
Sourabh Gupta, CEO, Vernacular.ai. Said, “Our vision is to create a broad-based engagement platform for a billion Indians using AI to address needs of people who can be reached only through vernacular languages. In a country of more than 1.3 billion people, only about 150 million can understand English. For others, the Internet is largely inaccessible. We are building India specific products to solve this problem. We are delighted to be supported by Kstart and to see them share our vision”.
As a part of the investment, Sumit Jain will join the board of director to nurture these founders and make the firm bigger in coming years.
Commented on the investment Sumit Jain, Partner, Kalaari Capital, said, “ There is a significant opportunity for Indian AI startups to solve India specific problems both for businesses and consumers. We are confident that Vernacular.ai will become the engagement partner of choice for businesses that want to leverage AI to solve for core issues”.
There is a number of other artificial intelligence based chatbots builder platform available today but most of them are not are not multilingual agents.
Describing the challenges in this sector, Akshay Deshraj, chief technology officer at Vernacular.ai said, “The challenges of Indian languages are very different from English. Transliteration in different scripts, identification of context for each language and wide usage of a hybrid combination of multiple languages are complex Natural Language Processing (NLP) problems. We are developing our own in-house technology to solve this problem in collaboration with industry and academia”, said Akshay Deshraj, chief technology officer at Vernacular.ai.
Earlier this year, Vernacular.ai had launched a B2C product called Aisha, the very first personal assistant in the Hindi Language for people living in Tier-2 & Tier-3 areas. In a very short span of time, the product saw strong traction and more than 50 thousand users are exchanging over a million messages.