Devnagri, a B2B SaaS-based translation startup, has raised $600K in its seed round from Venture Catalyst, Inflection Point Ventures and other co-investors.
According to the Noida-based startup, the funds will be used to increase its accuracy in machine translation and scale its operations to target businesses in the spaces such as e-commerce, BFSI and publishers.
Founded by Nakul Kundra and Himanshu Sharma, Devnagri combines neural machine translation with machine learning and a community to power translations. Currently the platform has over 5,000 translators and claims to have translated over 20 million words in 22 languages.
The startup claims that 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 translation time and 5-folds faster than professional translation.
Last week, Inflection Point Ventures (IPV) led Rs 11.6 crore pre-Series A round in a sales and distribution (S&D) enablement platform, AnKa SumMor.