Homegrown generative AI (GenAI) startup Devnagri announced on Thursday that it has completed a pre-Series A funding round led by Inflection Point Ventures, raising an undisclosed sum.
The Indian language translation startup with a B2B focus announced that further funding will go toward R&D, marketing, sales, technology scalability, infrastructure, and administrative costs.
Devnagri makes corporate communication hyper-local and more accessible by providing tailored messaging to non-native English speakers.
Nakul Kundra and Himanshu Sharma co-founded it, and it does a great job of contextualizing and personalizing material while integrating its technology into government and private infrastructures with ease.
“Our goal is to provide private cloud infrastructure to government agencies and businesses so they can keep control over their content and ensure that small language models (SLM) and natural language processing (NLP) are continuously trained based on customer usage,” Kundra stated.
Speaking over 700 languages, translating is difficult in India due to cultural quirks, context, and accuracy issues, according to Mitesh Shah, co-founder of Inflection Point Ventures.
According to Shah, “Devnagri uses AI-powered human translation to address these issues.”
Inflection Point Ventures has made over Rs 720 crore in investments in over 200 businesses to date.
At a compound annual growth rate (CAGR) of 6.7%, the Indian opportunity market for Devnagri is estimated to be worth $53 billion.
In a seed round in 2021, Venture Catalyst, Inflection Point Ventures, and additional investors contributed $600,000 to Devnagri.
