Central regions | Technology & innovation | Finance, business
Russians in U.S. raise funds for AI translation platform
3 Jul '20
A California-based start-up of Russian origin called Intento raised $3m from a consortium of VCs and angel investors, Crunchbase reported.
Intento is developing an integration platform designated Intento Enterprise Machine Translation Hub to enable companies to acquire and adapt artificial intelligence (AI) based solutions as they work with content. The start-up focuses on machine translation, helping assess and integrate models from 25 vendors, including Amazon, Google AutoML, Microsoft Custom Translator, IBM, and DeepL.
In addition, the technology makes it possible to enhance machine translation with other capabilities such as text classification, connotation analysis, image labeling, etc. Augmenting the functionality with text recognition and speech transcription is also on the table.
Set up in 2016 by two Russian innovative entrepreneurs, Grigory Sapunov and Konstantin Savenkov, Intento has raised a total of $4.3m in investment since then.
Intento is reported to have plans to funnel the new money into the improvement of sales and marketing strategies for Europe and the U.S., and also into an expansion of its client service department.