Contiinex, a speech AI startup, has raised $2 million in a pre-Series A round from two tech-focused venture fund houses, YourNest and Refex Capital.
The firm plans to use the funds to strengthen its technology team and expand its presence in the US market, Contiinex said in a statement.
Founded in 2020, Prateek Mehta and Vijay Krishna BS, Contiinex targets English speaking global Speech market and already claims to have made a huge impact with its proprietary speech-to-text engine & LLM driven Contiinex Open Framework for Insights (COFI), in the healthcare and insurance sectors.
The startup has transformed customer experience, enhanced business productivity, and driven cost optimisation for businesses across India, the US and Australia. It can accurately and efficiently analyse voice files and empower businesses to understand their customers better and make strategic business decisions.
The brand also considers expanding its Gen AI product offerings to address unstructured data across all mediums like voice, chat, email, videos and visuals. With its in-house LLM capabilities to do generative AI, Contiinex will expand its horizons to other verticals like banking, retail and utilities.
“This investment will go a long way in setting a strong base for Contiinex in the global market across business verticals of healthcare and Insurance with two of its flagship Gen AI offerings of AgentNex that enables Live agent assist prompting them with next set of question to be asked or supporting them in answering the question posed by the customer and AuditNex that does post call quality audit automation with high level of accuracy identifying key insights for process improvement or supporting the agent with key training needs,” said Prateek Mehta, CEO, Contiinex.