Devnagri raises $600K in a seed round from Venture Catalyst, IPV, others

KRISHNA NAGAR, India - Oct. 20, 2021 - PRLog -- Devnagri is one of the leading Indian Language Translation engines. It aims at revolutionizing the Indian translation industry by cumulating neural machine translation and advanced technology. Within a short span of time, the company has achieved great milestones and has set benchmarks in the translation spectrum. The unique Neural Machine Translation is gaining immense recognition due to its meaningfulness and meticulous nature.

Devnagri has profound plans for the future. It aims at maximizing its reach and catering to the Edtech industry. The latest funding from Venture Catalyst, IPV, and others will be utilized to increase the accuracy of machine translation and introduce novel translation models. Devnagri managed to grab funding worth $600k for future expansions and the company is planning expansion by scaling its operations and targeting businesses like eCommerce, publishers, and BFSI. The intent is to target and scale vernacular growth optimally.

Nakul Kundra, Founder of Devnagri said,

"There is a strong need for content in Indian languages to be available over the internet, which helps the Indians to use technology (be it entertainment, news, education, movies, etc) in their respective language. With our current round of funding, we intend to scale our operations to tap B2B customers and enable them to create more local (Indian language) content to reach end-users from Tier II and Tier III cities."

In a public event while acknowledging the success and vision of Devnagri, Dr Apoorva Ranjan Sharma, President and Co-founder, Venture Catalysts, added,

"The Indian vernacular language and translation market size are worth $53 billion, which currently features edtech, eCommerce, publishing, and OTT Industries. With 100 crore Indians from Tier II and Tier III cities expected to join the internet (because of affordable smartphones and data), the content availability in Indian languages is only 0.1 per cent, and less than 10 per cent of Indians are conversant in English. Devnagri is confident in plugging this huge gap using machine translation."

Presently Devnagri has more than 5000 translators working with them. It is constantly taking efforts to build a cohesive community to provide scalable, satisfying, and cost-effective translation services. The company envisions developing a systematic and contemporary model that can place Indian languages on a pedestal along with contextual translation.

For more details, please visit https://devnagri.com/devnagri-raises-600k-in-a-seed-round...