Devnagri raised $ 600,000 from Venture Catalyst, Inflection Point Ventures and other co-investors as part of Seed Round.
Venture Catalysts announced its latest investment in a SaaS-based B2B platform, Devnagri, to help businesses reach over 1 billion Indian internet users in their regional languages using large-scale human translation based on AI . 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).
Created by 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 up to 50% reduced cost, real-time delivery tracking with 80% reduction in downtime translation and 5 times faster than professional translation.
Devnagri organizes the workings of the translation industry and enables faster and on-time translation by using the AI-powered workflow to increase the efficiency and accuracy of the translation process. solve various use cases. With the latest injection of funds, the company intends to increase its accuracy in machine translation and expand its operations to target companies in industries like e-commerce, BFSI and publishers that depend on vernacular growth. .
Commenting on the fundraiser, Nakul Kundra, Founder of Devnagri said, “There is a strong need for Indian language content available on the internet which helps Indians use technology (whether it is entertainment, news, education, films, etc.) in their respective languages. With our current funding cycle, we intend to expand our operations to tap B2B clients and enable them to create more local content (in Indian language) to reach end users in Tier II and Tier III cities. .
Sharing his insights, 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 Ed-Tech industries. , E-Commerce, Publishing and OTT. 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 startups in the NLP industry in India, the company aligns with the vision of Digital India and Atma Nirbhar Bharat to enable internet in Indian languages. They are showing immense exponential growth and we wish them success on their journey. “
Mitesh Shah, co-founder of Inflection Point Ventures, shares: “Indian languages are absent from the Internet. Over the past 10 years, many websites have started offering multilingual options to non-English speaking users, but it is still not enough. Devnagri has developed a model, which can expand efforts to put Indian languages on the internet map. Their application of ML and Neural Machine Translation will help companies use contextualized translation. We believe it would be a game changer in Indian languages on the internet with relevant use cases.
“Today India has a digital ecosystem that includes nearly a billion people and is being created on a scale unprecedented in the world. We need to reach the last mile / last consumer of the internet in their language so they can harness its power, ”added co-founder Himanshu Sharma.
Currently with over 5,000 translators, Devnagri has a large and ever-growing community focused on scalability, cost savings and satisfaction in its catering businesses.
If you have an interesting article / experience / case study to share, please contact us at [email protected]