Indian Language Startup Devnagri Raises USD 600K In Seed Round From Venture Catalyst and Others
An Indian Language Translation Startup with a focus on B2B, Devnagri, has raised $600,000 in a seed round from Venture Catalyst, Inflection Point Ventures and others.
The fresh funds will be used to scale its operations and strengthen its technology to help create B2B sectors create more vernacular language content for end-users.
Commenting on the fundraising, Nakul Kundra, Founder of Devnagri said, “There is a strong need for content in Indian Languages to be available over the internet, which helps the Indians to use technology (be it Entertainment, News, Education, Movies, etc.) in their respective language. With our current round of funding, we intend to scale our operations to tap B2B customers and enable them to create more local (Indian Language) content to reach end-users from Tier 2 & Tier 3 cities.”
Sharing his insights, Dr Apoorva Ranjan Sharma, President and Co-founder, Venture Catalysts, said, “The Indian vernacular language & translation market size is worth $53 Billion, which currently features Ed-Tech, E-commerce, Publishing and OTT Industries. With 100 Cr Indians from Tier 2 and Tier 3 cities expected to join the internet (because of affordable smartphones and data), the content availability in Indian languages is only 0.1 per cent and less than 10 per cent of Indians are conversant in English. Devnagri is confident in plugging this huge gap using machine translation. As one of the leading startups in the NLP Industry of India, the company is aligned with Digital India and Atma Nirbhar Bharta’s vision to enable the Internet in Indian Languages. They are showing immense exponential growth and we wish them success in their journey.”
Mitesh Shah, Co-Founder, Inflection Point Ventures shares, “Indian Languages are missing from the internet. In the last 10 years, many websites have started providing multi-lingual options for the non-English users but it is still not enough. Devnagri has developed a model, which can scale the 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 this would be a game changer in Indic languages on the internet with relevant used cases.”
The fresh funds will be used to scale its operations and strengthen its technology to help create B2B sectors create more vernacular language content for end-users.
Commenting on the fundraising, Nakul Kundra, Founder of Devnagri said, “There is a strong need for content in Indian Languages to be available over the internet, which helps the Indians to use technology (be it Entertainment, News, Education, Movies, etc.) in their respective language. With our current round of funding, we intend to scale our operations to tap B2B customers and enable them to create more local (Indian Language) content to reach end-users from Tier 2 & Tier 3 cities.”
Sharing his insights, Dr Apoorva Ranjan Sharma, President and Co-founder, Venture Catalysts, said, “The Indian vernacular language & translation market size is worth $53 Billion, which currently features Ed-Tech, E-commerce, Publishing and OTT Industries. With 100 Cr Indians from Tier 2 and Tier 3 cities expected to join the internet (because of affordable smartphones and data), the content availability in Indian languages is only 0.1 per cent and less than 10 per cent of Indians are conversant in English. Devnagri is confident in plugging this huge gap using machine translation. As one of the leading startups in the NLP Industry of India, the company is aligned with Digital India and Atma Nirbhar Bharta’s vision to enable the Internet in Indian Languages. They are showing immense exponential growth and we wish them success in their journey.”
Mitesh Shah, Co-Founder, Inflection Point Ventures shares, “Indian Languages are missing from the internet. In the last 10 years, many websites have started providing multi-lingual options for the non-English users but it is still not enough. Devnagri has developed a model, which can scale the 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 this would be a game changer in Indic languages on the internet with relevant used cases.”
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