Cambridge's Speechmatics has collected fresh funding from AlbionVC, IQ Capital Partners and business angels to take forward its growth strategy.
Speechmatics, a UK-based speech recognition platform developer based on University of Cambridge technology, yesterday obtained £6.4m ($8.2m) in a series A round led by AlbionVC, the venturing arm of investment firm Albion Capital.
The round was filled out by local deep tech-focused venture firm IQ Capital Partners and multiple unnamed angel investors.
Founded in 2009, Speechmatics offers a machine learning-driven speech recognition technology that can be applied to both live and pre-recorded multimedia clips containing verbal discourse in one of 29 supported languages.
Applications for the technology include instant audio transcription, broadcast subtitling and converting call centre recordings into text.
Clients can either upload their files to Speechmatics’ cloud-based platform or else utilise the software from on-premises computers, potentially appealing to enterprises with data privacy concerns.
Speechmatics stems from research undertaken by its founder Tony Robinson, a former advanced research fellow and lecturer at University…
