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Speech recognition firm Uniphore secures new investment from IDG Ventures

 

Speech recognition solutions company Uniphore Software Systems received new investment from IDG Ventures.

The additional funding will enable Uniphore to scale its core technology development efforts and expand its presence in multiple markets around the world.

“IDG Ventures have deep experience of investing and mentoring world-class companies and having them as an investor is an enormous vote of confidence in Uniphore’s ability to emerge as a leader of its niche,” said Umesh Sachdev, Co-founder and CEO, Uniphore Software Systems.

Uniphore’s solutions allow software applications to understand and respond to natural human speech. Uniphore has developed and integrated speech-recognition applications across many industries, including banking, insurance, BPOs, agriculture, lending/MFI, healthcare and government.

“Combination of voice and analytics is a very interesting concept,” said Ranjith Menon, senior vice president with IDG Ventures. “We are very excited at the opportunity to partner with Umesh and team as they take this platform globally.”

On May 8, BiometricUpdate.com reported that Uniphore received investment from Kris Gopalakrishnan, Infosys co-founder.

Uniphore had previously raised USD $1 million in an angel round of funding and was incubated at IIT Madras, where it received a USD $100,000 grant from National Research Development Corporation in 2008.

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