Google Plans $4 Million Investment in Indian AI Company Corover.ai
Google is reportedly close to investing approximately $4 million in Corover.ai, an Indian conversational artificial intelligence startup. The potential investment is seen as an indication of the explosive growth expected in the Indian AI startup space. Corover.ai is one of a few Indian startups working on an indigenous large language model called BharatGPT, which claims to support over a dozen Indian languages.
Although Google had previously made a non-equity funding of $500,000 in Corover, it is now in discussions to invest $4 million in equity following the official launch of BharatGPT in the coming weeks. The startup has already received a significant amount of the initial funding since March, with the remainder to be received by December. With Google’s support as a strategic partner, Corover gains access to cloud computing credits. The newly infused funds will be used to scale up BharatGPT.
Corover, founded in 2016, already boasts several high-profile clients and partners like IRCTC, NPCI, ICICI Prudential, and ITC, among others. Its existing investors include CanBank Venture Capital Fund, Lead Angels, Cognify, Karekeba Ventures, and IIIT-Delhi. Additionally, the startup has valuable collaborations in diverse industries, such as banking, finance, healthcare, manufacturing, travel, and ecommerce.
According to experts, global tech companies are increasingly interested in Indian startups that focus on Indian languages, aiming to enhance their capabilities in the AI domain. This trend was recently highlighted by Adobe’s acquisition of Rephrase.ai, an AI-based video creation platform, signaling its intention to integrate the Indian firm’s technology with its own video-editing platform.
Corover offers text, audio, and video chatbots in both Indian and foreign languages, which can be seamlessly integrated across popular platforms like WhatsApp, Signal, Zoom, Salesforce, and SAP. The startup’s emphasis on language diversity caters to the needs of clients in various sectors.
As the Indian AI startup landscape continues to gain momentum, it is evident that Google sees immense potential in investing in Corover.ai and supporting the development of BharatGPT. With its significant funding and strategic partnership, Corover is well-positioned to further its mission of building advanced AI solutions that cater to the nuances of the Indian market and its multiple languages.
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