Bengaluru: Reverie Language Technologies, a cloud-based local language computing platform, raises $4 million in its Series A financing round from Aspada Investment Company and Qualcomm Ventures. The company plans to utilize the fresh capital to scale up its sales and marketing teams in Middle East and Southeast Asia. As a part of this deal, Sahil Kini, Vice President, Aspada will be joining Reverie’s board.
“We are excited to have Aspada Investment Company and Qualcomm Ventures as our investors. Aspada has been investing in exceptional innovations that solve hard problems and Qualcomm Ventures were the first to believe in Reverie’s story, ever since we won the prestigious Qualcomm QPrize™ in 2011,” says Arvind Pani, Co-Founder & CEO, Reverie. “Easy local language support for digital services and content in India and other markets is fundamental for the continued growth of the market and in the digital inclusion of hundreds of millions of non-English users. Through our language localization platform, Reverie aims to help create a content-rich Internet that is accessible to over five billion users of every local language, irrespective of the devices they use,” he added.
Speaking about the new investment, Varsha Tagare, Senior Director, Qualcomm Ventures India, says, “Over the years, since Reverie Language Technologies won QPrize™ 2011, we have been impressed with the team and their vision to eliminate the linguistic digital divide by providing innovative technology solutions for local language processing in Indian, Perso-arabic and other South Asian languages. With our new investment, we aim to help the passionate team at Reverie, expand Language-as-a-service platform across geographies to create a local language mobile internet experience”.
Founded in 2010 by Sachindra K Mohanty, Vivekananda Pani and Arvind Pani, Reverie is a local language computing and language experience company. Its flagship product, the Reverie Language Gateway helps businesses go multilingual by enabling the developers to convert their mobile apps, web portals and other content from English to local languages. As of now, the company offers its translation services in over 50 languages; including most of the Indian regional languages like Assamese, Bengali, Hindi Kannada, Kashmiri Sanskrit, Konkani and many more.