Devnagri Raises Pre-Series A Funding Led by Inflection Point Ventures
New Delhi: Devnagri, a homegrown Generative AI (GenAI) startup specializing in Indian language translation, announced on Thursday that it has secured an undisclosed amount in a pre-Series A funding round led by Inflection Point Ventures.
Investment Allocation
The B2B-focused startup plans to allocate the new funds towards expanding its marketing, sales, technology scaling, R&D initiatives, infrastructure enhancements, and administrative expenses.
Unique Offerings
Devnagri provides personalized business communication solutions tailored for non-English speakers, enhancing accessibility and localization in communications.
Co-Founders’ Vision
Co-founded by Nakul Kundra and Himanshu Sharma, Devnagri excels in contextualizing and personalizing content, integrating its technology seamlessly into both private sector enterprises and government infrastructures.
Future Directions
“We are progressing towards offering enterprises and government departments a private cloud infrastructure to maintain ownership of their content,” stated Nakul Kundra, emphasizing their commitment to enhancing Natural Language Processing (NLP) and Small Language Models (SLM) with every customer interaction.
Investor Perspective
Mitesh Shah, Co-Founder of Inflection Point Ventures, highlighted India’s linguistic diversity and the challenges in accurate translation. He praised Devnagri for leveraging AI-powered human translation to address these complexities effectively.
Funding History and Market Potential
Devnagri previously raised $600,000 in a seed round from Venture Catalyst, Inflection Point Ventures, and other co-investors in 2021. The market opportunity for Devnagri in India is estimated at $53 billion, with a projected growth rate of 6.7% annually.
The latest funding round underscores Devnagri’s strategic growth trajectory in the AI-driven language translation space, positioning itself to meet the escalating demand for localized and accurate business communication solutions across diverse sectors in India.
Stay tuned for further developments as Devnagri continues to innovate and expand its footprint in the burgeoning GenAI market.
