Following in the footsteps of transcription-turned-AI tech firms, Verbit and Otter.ai, and competing with more established listed service and tech providers, Ai-Media and VIQ, Singapore-based Airgram has raised USD 10m in series A funding.
The round was led by GL Ventures (part of Hillhouse Ventures), Linear Capital, CDH Investments, and the PKSHA SPARX Algorithm Fund. Founder and CEO, Zhang Yan, told Slator that Airgram plans to use the funds to invest in research and development, client services, and office expansion.
As of August 2022, the company offers two main products, Notta and Airgram AI Assistant. Notta is a speech-to-text transcription tool that is said can transcribe from any audio source. Airgram AI Assistant, on the other hand, is marketed as a meeting productivity tool. It includes many of Notta’s main features plus meeting planning, interactive collaboration, and so on.
In its marketing messaging, the company identifies as a common challenge of Airgram users the need to participate in conversations without losing track of important information, all while retaining important information for post-meeting action and retrieval.
This type of challenge is what inspired Zhang to gather a group of friends in 2020 and develop the tool. “We just want to change the way we used to run meetings. Our goal is to help [businesses] have engaging and effective meetings,” Zhang explained.
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Notta supports 104 languages. Airgram AI Assistant is currently available in eight languages (Chinese, English, French, German, Japanese, Portuguese, Russian, and Spanish) and can be added to Zoom, Google Meet, and Teams, much like competitor Otter.ai.
Airgram can be used free for up to five recordings. Paid subscriptions include a Team plan with a monthly pricing model that varies based on usage and starts at USD 17.99. There is also a customizable Enterprise version that Airgram prices based on a customer’s needs.
Both Notta and Airgram AI are available in a subscription model. Zhang said the monthly recurring revenue for both products is “six figures.”