Have been aware of Ubona’s funding discussions (well, they raised the funding 2 weeks back), but was requested to not divulge till the cat is out of the bag. And now, the news is out in the press
Ubona (read our earlier review), Bangalore based voice recognition startup has raised Series A funding from capital18, Network18’s venture arm.
Ubona launched as a test/foodie service in Bangalore (a PoC to validate/test their voice recognition engine) and most of the readers/users actually took them as a foodie service, a lead-generation model.
But that’s not Ubona’s business.
Ubona licenses it’s software to players in travel/finance/entertainment etc. sector where voice recognition can help these businesses curtail the operational cost.
This funding surely comes as a big thing for JC and his team, as they needed to scale up fast and were looking for funding.
Voice recognition engines will drive the growth of IVR/VAS in India and even though many mobile techies will argue that this technology is no big deal – open source alternative, Sphinx is available and all you need to do is punch in different accents.
But to me, it’s all about packaging and how one can commercialize the product and make it easily integrate with a business process (be it local search or call centers)
Capital18 is Network18’s venture arm which few months back acquired Infomedia, local search player – so expect a synergy there.
What’s your opinion?
Another strong startup in this space: mScriber (review).