VerSe Innovation acquires AI-startup Cognirel Technologies – Outlook India

VerSe Innovation acquires AI-startup Cognirel Technologies


Bengaluru, Feb 23 (PTI) Local language technology platform
VerSe Innovation on Tuesday announced that it has acquired
Cognirel Technologies, a Bengaluru-based AI solutions
VerSe will bring on board Cognirel Founder Ram Prakash to
head its newly instituted AI Lab, it said in a statement.
Financial details of the transaction were not disclosed.
“This acquisition bolsters VerSes commitment to creating
cutting-edge digital capabilities to serve the emerging
content needs of millions of consumers using technology”, it
“Today, VerSe Innovations proprietary technology
platform powers 300 million-plus users to consume content in
their local language on Dailyhunt”, the statement said.
The acquisition of Cognirel is Bengaluru-headquartered
VerSes first since becoming a Unicorn in December 2020.
Earlier this month, VerSe Innovation raised USD 100
million-plus in a funding round led by Qatar Investment
Authority, the sovereign wealth fund of the State of Qatar and
Glade Brook Capital Partners, close on the heels of a USD 100
million-plus fundraise in December last year led by Alpha
Wave, Google and Microsoft.PTI RS

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Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

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