Venture Catalyst-backed GenAI startup Devnagri raises new funds led by IPV

Devnagri, a homegrown generative AI (GenAI) startup has raised an undisclosed amount in a pre-Series A round led by Inflection Point Ventures, the company said in a press note on Thursday, July 25.

The startup plans to utilise the fresh funding for marketing, sales, technology scaling, R&D, infrastructure and administrative expenses, it said.

Devnagri offers personalised business communication to non-English speakers, making it hyper-local and more accessible.

Co-founded by Nakul Kundra and Himanshu Sharma, it excels in contextualising and personalising content, seamlessly integrating its technology into both private and government infrastructures.

“We are moving towards offering the enterprises and government departments a private cloud infrastructure, to maintain their ownership of their content and by keeping the Natural language processing (NLP) and Small Language Models (SLM) trained with every usage by the customer,” said Kundra.

Mitesh Shah, Co-Founder, Inflection Point Ventures said that in India, where more than 700 languages are spoken, translating it is a challenging task from the perspective of accuracy, context, and cultural nuances.

“Devnagri addresses these problems by leveraging AI-powered human translation,” said Shah.

So far, Inflection Point Ventures has invested over Rs 720 crore across more than 200 startups.

The opportunity market for Devnagri is valued at $53 billion in India, growing at a CAGR of 6.7 per cent.

Devnagri raised $600,000 from Venture Catalyst, Inflection Point Ventures and other co-investors in a seed round in 2021.

With agency inputs