Vestec develops speech-recognition technology and speech-enabled services built on an advanced AI platform and proprietary IP. The company was founded by a group of AI researchers from the University of Waterloo and is chaired by Fakhri Karray. Vestec is focusing on productizing its natural language understanding technologies for healthcare and bringing those products to global markets. Last October the company secured $6.4 million in institutional funding from Sansar Private Equity Partners to expand its product portfolio. More recently Vestec received $1.5 million from V. Raman Kumar, signaling continued investor interest. The new funding and board appointment are intended to accelerate development and commercialization in healthcare verticals. Vestec develops speech recognition products and speech-enabled services centered on ASR, NLU and TTS engines. Its core product portfolio includes Automatic Speech Recognition (ASR), Natural Language Understanding (NLU) and Text to Speech (TTS), supporting all major languages. The company offers its core speech products in embedded, server, distributed and cloud configurations. Vestec was founded by Dr. Fakhri Karray together with a group of AI researchers from the University of Waterloo. The company intends to use the new capital to expand its product portfolio and geographic coverage. Financially, Vestec has raised up to $6.4m in a Series B financing involving an immediate equity purchase and warrants for additional investment.

Total raised

$8M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2013