Speech technology startup Murf AI, on Wednesday said it has secured $10 million (around Rs 79 crore) as part of a Series A funding round led by Matrix Partners India, with participation from existing investor Elevation Capital.
The round also saw participation from angel investors including Ajay Arora (Disney Streaming), Ankit Bhati (Ola), Ashwini Asokan (Mad Street Den), Pushkar Mukewar (Drip Capital) and Yamini Bhat (Vymo).
Founded by Sneha Roy, Ankur Edkie and Divyanshu Pandey in 2020, Murf provides an artificial intelligence (AI)-enabled SaaS tool that allows users to generate voiceovers via modulation—without the need for complex recording equipment or hiring a voice artist.
The startup plans to use the fresh funds to drive further product innovation, increase research and development and scale presence in focused geographies.
Last year, the company raised $1.5 million in seed funding round led by Elevation Capital and a few angel investors.
“Synthetic media is poised to become omnipresent in the near future and voice is at the core of it. At Murf, we continue to make advances in our speech technology to bring the diverse abilities of talented voice actors at our customers’ fingertips through AI. This Series A investment would further bolster our commitment towards simplifying and scaling voiceovers,” said Edkie.
“We are believers that AI will reinvent every market and Murf is reinventing a multi-billion dollar category with its AI-voiceover technology. Murf makes it easy for every individual to create emotional and theatrical voices,” said Pranay Desai, principal, Matrix India.
AI-based startups have been garnering investor attention for quite some time lately.
In June, artificial intelligence-backed customer and field service platform Neuron7 has raised Series A funding round of $10 million (around Rs 53 crore) co-led by Nexus Venture Partners and Battery Ventures.
