VerSe Innovation acquires AI-startup Cognirel Technologies – Outlook India




VerSe Innovation acquires AI-startup Cognirel Technologies








outlookindia.com

1970-01-01T05:30:00+0530

Bengaluru, Feb 23 (PTI) Local language technology platform
VerSe Innovation on Tuesday announced that it has acquired
Cognirel Technologies, a Bengaluru-based AI solutions
provider.
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
said.
“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
ROH ROH

READ  Big Tech wants in on healthcare. What could go wrong? - Los Angeles Times


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


More from Outlook Magazine



READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here