Bucharest-based startup Vatis Tech has announced closing a round of over €200K for its AI-powered online speech recognition platform. The funding is provided by Early Game Ventures, Sparking Capital and Mălin Ștefănescu, President of TechAngels.
Founded in 2020, Vatis Tech aims to provide the most accurate and easy-to-use speech recognition API ever, for multiple fields, in multiple languages. At the same time, it’s working to empower everyone to build custom speech recognition models with a minimum of resources using its infrastructure.
Adrian Ispas, founder and CEO of Vatis Tech said: “At Vatis Tech, we focus on developing recognition algorithms for European languages such as French, Italian, German, Dutch, or Polish. We started, of course, with the Romanian language, and we proved that our solution has better results than the technology offered by established players. In tests performed so far, the accuracy of our competitor’s transcription reached 84%, while that of Vatis Tech has exceeded 94%. The speech recognition algorithms developed by us are specialized in industries and verticals, such as media, finance, technology, or the medical field,”
The Vatis Tech service is available online and can be tested by anyone. Developers can use the API to integrate Vatis technology into their products and services, benefitring from dedicated support and taking advantage of advantageous prices.
Vlad Sarca, Partner at Sparking Capital, commented: “We are happy to support Vatis Tech on their journey to become one of Europe’s leaders in speech recognition. The automatic speech recognition market has reached a worth of over $17 billion by now and is showing significant growth. We are noticing that business leaders are looking to use their voice data for improving their customer experience, training employees or integrating it with other data sources to gain an edge over competitors. The Vatis Tech team has recognized this opportunity, and is providing solutions that can be deployed in the cloud and on premise, for companies that want to gain a competitive advantage through technology.”
Mălin Ștefănescu, President of TechAngels, said in a statement: “I liked Adrian, Alexandru and Emanuel and I believe Vatis Tech grows in a generous market that still has a lot of room for innovation. I believe they can be the best, and we as investors are here to support them. I am happy to be part of a multiple use-cases project, that helps technology, to become more local and more human-like.”