Indian GenAI Startup Devnagri Secures Funding Led by Inflection Point Ventures
Devnagri, a generative AI company based in Noida specialising in personalising business communication for non-English speakers, has raised an undisclosed amount in a Pre-Series A round led by Inflection Point Ventures. The newly acquired funds will be used for marketing, sales, technology enhancement, R&D, infrastructure, and administrative expenses. Devnagri leverages advanced NLP and Small Language Models (SLM) to tailor business communications for diverse linguistic audiences, seamlessly integrating their technology into both private and government infrastructures. This approach addresses the unique linguistic needs of non-English speakers, enhancing communication and engagement. The company was co-founded by Nakul Kundra and Himanshu Sharma, who collectively bring over 15 years of entrepreneurial experience. Kundra, an MBA in Marketing & Finance, has a strong background in business strategy, while Sharma, also an MBA in Marketing and a skilled coder, combines technical expertise with business acumen. Devnagri’s innovative solutions have earned them top BLEU scores in Indian languages, significantly impacting the Indian language ecosystem. By expanding from NLP products to generative and SLM, the company empowers customers to personalise their content, meeting the urgent need for localised communication. This enables businesses to scale operations efficiently in Tier II and Tier III cities, broadening their reach and engagement in cost-effective ways. Kundra, co-founder of Devnagri, stated that communication is for the receiver. Hence, the Law of Attraction will only work when businesses communicate well with their audiences. The company is focused on creating hyper-local communication layers to enable businesses to communicate with their customers in their language. “Taking a step forward, we are moving towards offering the enterprises and Government departments with a private cloud infrastructure, to maintain their ownership of their content and by keeping the LLMs/SLMs trained with every usage by the customer,” said Kundra. Inflection Point Ventures has invested over INR 720 Cr across 200+ startups to date. Mitesh Shah, Co-Founder of Inflection Point Ventures, emphasised the challenges of translating India’s more than 700 languages and the importance of accuracy, context, and cultural nuances. “The platform ensures precise translations, context-awareness, and localisation, enabling seamless communication across diverse Indian languages,” said Shah. Devnagri has received numerous prestigious awards, including the TieCon Award 2024 in San Francisco, the Graham Bell Award 2023, a feature in Shark Tank India 2022, and recognition as NASSCOM’s Emerging NLP Startup of India. The opportunity market for Devnagri is projected to be valued at $100 billion globally by 2030, with $53 billion in India, growing at a CAGR of 6.7%. As the language industry takes shape in India, it will create sub-industries and transform communication for everyone.
The company was co-founded by Nakul Kundra and Himanshu Sharma, who collectively bring over 15 years of entrepreneurial experience.
The company was co-founded by Nakul Kundra and Himanshu Sharma, who collectively bring over 15 years of entrepreneurial experience.
["Fund Raising", "Generative AI"]
["Go", "AI", "Fund Raising", "ML", "SLM", "RAG", "NLP", "generative AI", "Generative AI", "small language models", "R", "startup"]
["AI", "ML", "NLP", "generative AI", "small language models", "SLM", "RAG", "R", "Go", "startup"]
Mohit writes about AI in simple, explainable, and often funny words. He's especially passionate about chatting with those building AI for Bharat, with the occasional detour into AGI.