Romanian speech recognition startup Vatis Tech raises €650k
10 January, 2023, 14:50
The Bucharest-based high-accuracy and scalable speech recognition API for European languages Vatis Tech have raised €650,000. The new round was led by Early Game Venture, Sparking Capital, and Malin Stefanescu, other angel investors also participated.
- Founded in 2020 by Adrian Ispas, Gabriel Muresanu, and Alexandru Topala, Vatis Tech provides a speech recognition application programming interface for multiple fields, in multiple languages. Vatis Tech solution allows private companies and government institutions to automate processes and entire streams of audio data, thus achieving cost efficiency, superior response times to customer needs, extracting key information in real-time and, also to generate new streams of revenue.
- Currently, Vatis Tech’s accuracy ratio in Romanian is over 95%, while Google or Microsoft gets 85%. The technology is used in media, legal, medical, and call centers.
- Since launching, Vatis Tech has broken the record of 3.1 million transcribed notes. Over 20 companies use Vatis Tech technology, including Klarmedia, Unicredit, Voyo, The Vast, and Curious.
- The fresh round was led by one of the most active Romanian VC funds Early Game Ventures and Sparking Capital. Recently, Early Game Ventures led the €1 million late seed round for the Romanian management app ecosystem Licenseware. Other private investors have also joined the round.
- The company will spend the investment on the development of new transcription models, designed for specific termed areas, such as medical or legal, but also for call centers, a huge transcription needs economic field.