Corover, the AI Startup, Set to Receive $4 Million Injection from Google for Advancements
Earlier this year, Google signed a deal with Corover and invested $500,000 in the firm.
In addition to Google, the firm has the support of Lead Angels, Cognify, Karekeba Ventures, CanBank Venture Capital Fund, and IIIT-Delhi.
Google is Corover’s strategic partner and provides credit for cloud computing access.
According to reports, tech behemoth Google intends to invest an additional $4 million in Indian conversational AI firm Corover.
After striking a deal with Corover early this year, Google reportedly already had $500,000 invested in the business, according to an ET story. Nonetheless, it is thinking about investing an additional $4 million in stock after BharatGPT is formally launched in the upcoming weeks.
One of the few conversational AI-based firms in India, Corover was founded in 2016 by Ankush Sabharwal, Kunal Bhakhri, Manav Gandotra, and Rahul Ranjan. The company offers a large language model (LLM) called BharatGPT. It is stated on the platform that over twelve Indian languages are supported.
According to those with knowledge of the situation, Google provides Corover with credit access to cloud computing and functions as a strategic partner.
The startup will use the new investment in conversation to scale its business.
In addition to Google, other investors in the firm include Lead Angels, Cognify, Karekeba Ventures, CanBank Venture Capital Fund, and IIIT-Delhi. Among its clients and partners are IRCTC, NPCI, ICICI Prudential, ITC, Max Life Insurance, Bosch, Karnataka Tourism, and Israel Tourism.
Recently, the Indian government has pushed for the inclusion of Indian languages in conversational AI chatbots for the benefit of Indian users in a number of fields.
The National Payments Corporation of India (NPCI) recently declared that it is eager to incorporate BHASHa INterface for India (Bhashini), an initiative that aims to facilitate users’ ability to make payments in Indian languages during conversations.
After the integration is finished, consumers will be able to utilize this to do a variety of tasks, including booking LPG cylinders, renewing insurance, recharging FASTag, and making B2B money transactions.
Lead by Peak XV’s Surge, ClearFeed, another domestic conversational AI firm, raised $2.7 million in its preliminary funding round.