Voice Recognition Software, Fluent.ai Raises $1.8M in Seed Financing

Voice Recognition Software, Fluent.ai Raises $1.8 M in Seed Financing

Fluent.ai won the trust of investors with its patented acoustics-only solution that works accurately in any language and performs well even in noisy conditions

Montreal-based Fluent.ai that powers personalized, voice-enabled User Interfaces, secured $1.8M in seed financing. The investment was backed by BDC Capital, Danhua Capital, top AI investors from the Creative Destruction Lab (CDL), and experienced angel investors from the Maple Leaf Angels (MLA).

 CEO, Fluent.ai
Niraj Bhargava, CEO, Fluent.ai

The new investment brings Fluent.ai’s total funding to $1.73M, which they said would be used to accelerate commercialization of its voice interface software which can fully run onboard on embedded devices, or in the cloud. With the funding, Fluent.ai has graduated from TandemLaunch’s (first investor) incubation program.

“With the support of a solid group of investors and partners from Canada, Silicon Valley, Europe and Asia, we are in a strengthened position to further build our team and accelerate the commercialization of a unique and valuable AI voice interface solution,” said Niraj Bhargava, CEO, Fluent.ai. The company provides personalized intent recognition that learns from user’s speech, behavior, context,  in any language, without going through the text.

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Dovey Wan, Managing Directo, Danhua Capital, said, “Fluent.ai’s technology addresses many of the problems with current voice interfaces with its limited training data set and computing power. In addition, the technology’s ability to work accurately in any language and perform well in noisy conditions represents a tremendous market opportunity, especially in the era of IoT and edge computing.”

The company provides personalized intent recognition that learns from a user’s speech, behavior, context, in any language, without going through the text. Fluent.ai’s team leaders join CDL’s machine learning stream, which is home to the largest concentration of AI enabled start-ups, of any program, in the world.

Michelle Scarborough, MD-Strategic Investments, BDC Capital

Michelle Scarborough, MD- Strategic Investments, BDC Capital, said, “BDC Capital, through its Venture Acceleration Program, decided to invest in Fluent.ai because of its strong technical team, experienced CEO, large global market opportunity, and the support of knowledgeable strategic advisors, including those of the CDL.” Scarborough who is also the MD of BDC’s Women in Tech initiative believes that AI is the strategic sector where Canadian talent can be a game changer.

Fluent.ai’s patented speech recognition engine learns the meaning of specific speech patterns to trigger actions. It not only aligns with users who have complex languages, and associated accents, but also those that have voice impairments. It understands users far better at first and then improves over time with accuracy approaching 100%. Its ability to function offline allows for enhanced user security and privacy.

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