Estonian startup Snackable AI is developing an AI-based search engine that allows users to find relevant audio content in podcasts, audio books, videos and other media that contains audio. Using natural language processing and machine learning, Snackable’s technology helps users find specific mentions from different recordings, taking into consideration the context and providing the result in a short ‘snackable’ format – saving the user from having to listen through long recordings in order to find the content that interests them.
Founded in 2018, Snackable has raised €1.27 million in seed investment led by the Estonian venture capital fund Tera Ventures and joined by existing investor Superangel and one of the founders of Skype, Jaan Tallinn, who is known for his work and many investments in AI. The new funding brings the total raised by the startup to €2 million.
The funding will be used to expand the team and for market entry. Snackable’s technology platform is designed for business customers and, as of today, is in the development stage. The company has run private pilots with various leading media companies in the USA, such as Slate. A number of customers will launch in the coming months.
“We will definitely continue and expand our operation in Estonia, as engineers here have the required know-how to develop technologies based on AI,” said Snackable AI founder and CEO Mari Joller. “Entering the market will require expanding the team both in New York at Snackable’s headquarters, as well as in Tallinn, where the development office is located. We are constantly looking for new talent in order to provide Estonian developers with the opportunity to work alongside top professionals in our field and develop game-changing technologies.”
“Snackable is adding a new dimension to previous search possibilities: it will allow the user to discover exciting audio recordings by analysing their actual content and context, not just the titles,” said founder and partner of Tera Ventures Stanislav Ivanov. “In addition to that, the application is able to identify the most significant parts of the recording, which will save the user time and improve the listening experience.”
