AI-First SaaS business, Vernacular.ai has secured about a $5.1 million fund in a recently held Series A funding round. The company intends to use this gain in expanding its endeavours and launch itself in the international market, striding to leave notable imprints across the globe.

This activity of seeking financial assistance was organised by an early stage, frontier technology venture capitalist firm- Exfinity Ventures and a leading angel investing firm, IAN Fund. The event witnessed the presence of other leading venture capitalists such as Kalaari Capital, AngelList and LetsVenture. Their participations further ameliorated the significance of the funding round.

Referring to the recently held event, Vernacular.ai disclosed its future plans and enlightened us about its intention of using this newly raised capital to enter Southeast Asia and the premises of the US. At the same time, it is also intending to invest in R&D to further enhance its proprietary artificial intelligence-based voice automation platform.

Founded by two IIT Roorkee graduates, Sourabh Gupta and Akshay Deshraj, the Bangalore based SaaS firm Vernacular.ai helps accelerate engagement strategy, utilise speech recognition and Natural Language Understanding (NLU) technology to provide customer experiences across diverse sectors.

Co-Founder and CEO of Vernacular.ai., Sourabh Gupta, says, “This Series A round will be used to fund the company's expansion outside India and to drive innovation through rigorous R&D across multiple verticals of our business,” “With situations like the one we are in today, contingency plans have significantly increased dependency on voice automation, and we feel well-placed to serve this need, globally.”

Raman Roy from IAN fund,will also be joining the board of the company very soon. He highlighted the recent situation and trends where social distancing and digitisation are key in the “new normal”. And Vernacular intends to help enterprises to engage and much more effectively and efficiently with their customers.