Finnish startup Inscripta raises €700K to grow its speech recognition technology

The Finnish language technology company Inscripta Oy has raised a total of 700K in funding for the further development of its self-developed speech recognition technology and final solutions.

Having begun operations in 2016, Inscripta is a 16-person software company that has developed a comprehensive and versatile end-to-end speech recognition solution for healthcare organizations and other companies that need speech recognition, such as a call centres and users using speech analytics. The company’s best-known customers include Mehiläinen, Heltti, Fimlab Laboratories and Coxa Artificial Joint Hospital. Its core technology is also available through the company’s partner vendors (Hedgehog, Digital Workforce, DrAI, Aiwo Digital, Lumoa, Cubiq, On-Time) as part of broader total solutions. In the future, the company intends to invest especially in product development and internationalization.

Inscript’s recent round had the participation of well-known angel investors, including medical investor Ali Omar (co-founder of Med Group), Henry Nilert (founder of Iobox), board professional Leena Niemistö (eg Pihlajalinna, Stockmann, Raisio), Jari Paakkarinen (Fibantaja angelis Nokia). Inscripta’s founding shareholders are Simo Sorsakivi , Joni Aaltonen and Peter Smit.

“Inscripta’s own advanced language technology makes it possible to translate any spoken language into text with very little teaching. Inscript has built its speech-to-text service in such a way that healthcare organizations in particular can produce speech as text in any way they want. Healthcare professionals can dictate on their computer, allowing the dictation to appear immediately on the target system. Users can also dictate the dictation to a dictation queue, from which the system decrypts the dictation into text for inspection by the background organization and for possible follow-up. The efficiency benefits and thus the savings are huge”, said Ali Omar, one of Inscripta’s main investors in the round.

“Thanks to our powerful, unique and adaptable technology and our deep customer understanding, we are able to easily offer several hundred thousand savings to organizations that need speech recognition. Deployment is effortless and quick, and no individual user needs to be taught the software to recognize their voice. If necessary, the system also integrates securely through the interface with other systems in the organization” said Insimo’s founder and CEO, Simo Sorsakivi.