Voice-based and AI-driven start-up Vernacular.ai has secured $25 million from investment firm WestBridge Capital, in a round of Series B funding. After this round, the valuation of the company will be pushed up to $100 million, and the start-up will have raised over $30 million so far in funding thus far.
In May 2020, the Bengaluru-based platform had raised $5.1 million in a Series A round of funding led by IAN Fund and Exfinity Ventures. Other big players, like LetsVenture, Kalaari Capital, and AngelList, also participated in this round.
WestBridge primarily deals with investment in India. As per their website, a typical investment ranges from US$25 million to US$200 million, often resulting in a substantial minority equity ownership, second only to the founder in many cases. Meanwhile, Vernacular.ai describes itself as a series A funded start-up, an AI-First SaaS business that is driven with the mission to become the leading voice automation/AI platform in the world.