BENGALURU: Reverie Technologies, a Bengaluru-based startup that devises local language solutions for the internet, has raised $4 million in Series A funding in a round led by Aspada Investment Advisors, with participation from existing investor Qualcomm Ventures.
Founded in 2010, Reverie devises full-stack solutions to translate, transliterate, input, and search on the web in dozens of Indian languages, which are embedded in millions of phones worldwide. Its language-as-a-service platform, where developers could create native language content for any site, is currently in beta phase.
“India is at an inflection point where businesses are realizing the importance of local languages. We want to be established as the de facto standard of everything that’s said and done in Indian languages on the web,” Arvind Pani, cofounder and CEO of the five-year-old company, told ET.
While other non-English countries such as China and Russia have developed their own language ecosystems online from the beginning, India’s internet remains dominated by English content. The potential in Reverie lies in its ability to bridge millions of users, who are literate in languages other than English, to the online world, said Sahil Kini, vice president of Aspada. “For over 200 million people in India, they are now excluded from the digital economy because language is a massive barrier. Reverie has built tech to eliminate this barrier with very little effort from the developers’ side, essentially defining a whole new computing,” he said.
“It has the potential to become foundational technology for the Indian and non-English internet.”
According to a recent report by the Internet and Media Assoxiation of India and IMRB International, creating local language content on the Internet would grow the Indian online user base by 39%, mostly from rural segments.
The new injection into Reverie will be focused on growing the company’s language-as-a-service platform, consolidating market share, creating fully automated solutions, and expanding globally, said Pani. The company hopes to engage aggressively with developers to produce native language content, aiming to collaborate with over 10,000 within the next 12 to 18 months.