Synthetic speech technology startup Murf AI has raised a $10 million Series A funding round led by Matrix Partners with participation from existing investor Elevation Capital and angel investors including Ajay Arora, Ankit Bhati, Ashwini Asokan, Pushkar Mukewar, and Yamini Bhat.
Murf had previously raised a $1.5 million seed funding round in May 2021 led by Elevation Capital and a few angel investors.
The proceeds will be deployed to accelerate research and development, drive product innovation, and expand into new territories, Murf said in a press release.
Founded in 2020 by Sneha Roy, Ankur Edkie, and Divyanshu Pandey, Murf provides an AI-based SaaS tool that allows users to generate “human-like” voice overs for videos and presentations while weeding out complex recording equipment or hiring a voice artist. The platform caters voice for every creator across all industries such as educators, authors, podcasters, animators, product developers, YouTubers, freelancers, and corporate coaches.
Murf says it has grown 22x in ARR and synthesised more than one million voice over projects. It claims to have curated a voice library of over 120 realistic sounding AI voices in more than 20 languages. The startup is also expanding its footprint worldwide with 80% of its customers coming in from the US, Canada, and EU region.
Venture capital firm Matrix Partners India is all set to raise $450 million as part of its fourth fund to invest in emerging startups in the country. Elevation Capital (previously SAIF Partners) also announced the final close of its 7th fund at $670 million.