Contiinex, a speech AI startup, has successfully raised $2 million in a pre-Series A funding round from two prominent venture fund houses, YourNest and Refex Capital. The investment will be utilized to strengthen Contiinex’s technology team and expand its presence in the US market, according to a statement issued by the company.
Established in 2020 by Prateek Mehta and Vijay Krishna BS, Contiinex focuses on the English-speaking global Speech market and has already made significant strides with its proprietary speech-to-text engine and LLM driven Contiinex Open Framework for Insights (COFI) in the healthcare and insurance sectors. Through its innovative technology, the startup has revolutionized customer experience, improved business productivity, and facilitated cost optimization for numerous companies across India, the US, and Australia. Its robust system can accurately and efficiently analyze voice files, equipping businesses with valuable insights to better understand their customers and make informed strategic decisions.
In addition, Contiinex is considering expanding its range of Gen AI products to cater to unstructured data from various mediums including voice, chat, email, videos, and visuals. Leveraging its in-house LLM capabilities for generative AI, Contiinex aims to broaden its horizons by entering other verticals such as banking, retail, and utilities.
Prateek Mehta, CEO of Contiinex, expressed his optimism about the investment, stating, This funding will play a key role in establishing a strong foothold for Contiinex in the global market, particularly in the healthcare and insurance sectors. We will focus on our flagship Gen AI offerings, AgentNex and AuditNex, which enable live agent assistance, prompt them with the next set of questions, and automate post-call quality audits with a high level of accuracy, identifying key insights for process improvement or supporting agents with key training needs.
Contiinex’s innovative speech AI technology has already gained recognition for its efficacy and potential to transform industries and enhance operational efficiency. With the support of YourNest and Refex Capital, Contiinex is poised to expand its reach and make a significant impact in the US market.
As the startup grows and diversifies its product offerings, businesses in various sectors can expect to benefit from the advanced capabilities of Contiinex’s AI-driven solutions. The expansion into new verticals like banking, retail, and utilities will provide opportunities for organizations to streamline their processes, gain valuable insights, and ultimately improve their overall performance and customer satisfaction.
With its commitment to innovation and its strong financial backing, Contiinex is well-positioned to continue driving advancements in the speech AI space and make meaningful contributions to the digital transformation of industries worldwide.