SUMMARY
Google had already invested $500,000 in Corover after signing a pact with the startup earlier this year
Other than Google, the startup is backed by the likes of CanBank Venture Capital Fund, Lead Angels, Cognify, Karekeba Ventures, and IIIT-Delhi
Google acts as a strategic partner to Corover and supports it with credit to access cloud computing
Tech giant Google is reportedly planning to make another $4 Mn investment in Indian conversational artificial intelligence startup Corover.
As per ET report, Google had already invested $500,000 in Corover after signing a pact with the startup earlier this year. However, it is considering another $4 Mn investment in equity following the official launch of BharatGPT in the coming weeks.
Founded in 2016 by Ankush Sabharwal, Kunal Bhakhri, Manav Gandotra and Rahul Ranjan, Corover is one of the few Indian conversational AI-based startups that offers a large language model (LLM), called BharatGPT. The platform claims to support more than a dozen Indian languages.
People close to the matter told ET that Google acts as a strategic partner to Corover and supports it with credit to access cloud computing.
The fresh investment in discussion will be deployed by the startup in business scaling.
Other than Google, the startup is backed by the likes of CanBank Venture Capital Fund, Lead Angels, Cognify, Karekeba Ventures, and IIIT-Delhi. It counts IRCTC, NPCI, ICICI Prudential, ITC, Max Life Insurance, Bosch, Karnataka Tourism and Israel Tourism, among others, as its clients and partners.
The Indian government has been recently advocating for the incorporation of Indian languages in conversational AI chatbots for Indian user convenience across several domains.
Recently the National Payments Corporation of India (NPCI) announced that it is looking forward to integrating BHASHa INterface for India (Bhashini), a project to help users make conversational payments in Indian languages.
NPCI said that through this, users will be able to make B2B money transfers, book LPG cylinders, recharge FASTag, renew insurance, among others, once the integration is completed.
Yet another homegrown conversational AI startup ClearFeed secured $2.7 Mn in its seed funding round, led by Peak XV’s Surge.
