Gurgaon-based online language translation startup, Process Nine Technologies Pvt Ltd has raised an undisclosed amount amount in funding led by IAN Ventures. Besides, the funding included investments from Alok Sharma, CEO, Nature Eco Ventures, and IAN investors Kris Gopalakrishnan, Saurabh Srivastava, and Ajai Chowdhry.
As per the deal terms, Alok Sharma has joined the board of the company. The funds will be invested in further developing ‘IndicaWave’ and ‘IndicaMobile’ products, and to scale the delivery capacity of Process 9’s translation business. The company will also invest in digital marketing and acquisition of key customers, as well as to further enhance the technology.
Speaking on the development, Rakesh Kapoor, Director and Co-founder, Process 9 said, “With Process 9, we aim to enable our customers to reach the top 35% non-English literate population of India quickly. IAN’s support is the first round of funding that we have received. We plan on investing in further enhancing the technology to improve quality and efficiency of the services.”
Process 9 was founded by Rakesh Kapoor and Devendra Joshi in 2010 with an initial investment of INR 1 Cr. It offers online translation and transliteration from English to Indic via a cloud-based Application Program Interface (API).
The startup is also developing products and solutions in Natural Language Processing (NLP) space and providing localisation solutions & services to a number of industry verticals such as retail, music & entertainment, travel, eGov, etc.
The company aims to make all the websites that are in English accessible to the non-English literate consumer/audience. It currently supports local languages like Hindi, Marathi, Tamil, Telugu, Kannada and Bengali.
Earlier, IAN Ventures had invested in Retailworx Pvt Ltd, which owns and operates food and vegetable retailing startup Freshworld. According to the media reports, that Intelliber Inc, a New York-headquartered startup which has an additional office in Jamshedpur, India, is in talks with IAN and other investors to raise $2 Mn in its Series A round of funding.