Speech AI Startup Contiinex Bags Funding To Help Businesses Enhance Customer Experience

SUMMARY

Contiinex raised $2 Mn in Pre-Series A round from YourNest and Refex Capital

The startup plans to use the funds to strengthen its tech team and expand its presence in the US market

Its generative AI based offerings can analyse voice files to assist agents and provide post-call quality audit automation to identify key insights

Speech AI startup Contiinex on Thursday said it has secured $2 Mn in Pre-Series A round from YourNest and Refex Capital.

The startup plans to utilise the fresh capital to strengthen its tech team and expand its presence in the US market, it said in a statement.

Founded in 2020 by Prateek Mehta and Vijay Krishna BS, Contiinex operates in the speech AI segment. It analyses voice files and helps businesses understand their customers better and make strategic business decisions.

Currently, the startup works in insurance and healthcare sectors, and plans to foray into the retail and banking segment soon.

The startup aims to capture the English-speaking global speech market with its proprietary speech-to-text engine and large-language model driven Contiinex Open Framework for Insights (COFI).

Contiinex is also looking to expand its generative AI product offerings to address the space of unstructured data across all mediums like voice, chat, email, videos and visuals.

Commenting on the funding round, Prateek Mehta, CEO of Contiinex, said, “This investment will go a long way in setting a strong base for Contiinex in the global market across business verticals of healthcare and insurance with two of its flagship gen AI offerings.”

The startup offers two products currently – AgentNex and AuditNex. AgentNex enables live agent assistance, prompting them with the next set of questions to be asked or supporting them in answering the questions posed by the customers.

On the other hand, AuditNex does post-call quality audit automation, identifying the key insights for process improvement or supporting the agents with key training needs.

With increasing dependence on process automation across industries, a number of AI-based startups have caught investors’ attention recently.

Kapture CX, a competitor of Contiinex, raised $4 Mn in July to expand its presence in international markets, enhance its product offerings and strengthen its team.

Recently, AI powered skill development platform Disprz bagged $30 Mn for global market expansion and product development, including integrating generative AI across the learning and skilling cycle.