VocalIQ, a Cambridge, UK-based developer of software to improve dialogue interactions in voice-activated systems, raised £750k in seed funding.
The round was led by Amadeus Capital Partners, which made the investment via the Amadeus IV Early Stage Fund, with participation from Cambridge Enterprise. In conjunction with the funding, Hermann Hauser will join the Amadeus Fund on the Board of VocalIQ.
The company intends to use the funds to expand the team and develop specific applications for testing.
A spin-out from the University of Cambridge’s Dialogue Systems Group, VocalIQ has developed proprietary software to improve dialogue interactions in voice-activated systems.
The global voice recognition market was valued at $53bn in 2012* and is forecast to grow to $113bn by 2017. Spoken dialogue technology is used in an increasing range of situations, from electronic devices in cars to digital language learning and video gaming.
Led by Chairman Steve Young, a Professor of Information Engineering at the University of Cambridge and an expert in speech processing and CEO Blaise Thomson, an expert in dialogue system design, VocalIQ will develop its first products for automotive, education and retail businesses and is currently working on a prototype application for one of the world’s largest car manufacturers.