Incubated by IIT Chennai, Uniphore Technologies is a customer service platform that leverages Artificial Intelligence and automation tech. The start-up has recently announced to have acquired Spain-based Emotion Research Lab that uses technology to analyse human behaviour through facial recognition of human emotions.
This acquisition is simply to enable Uniphore to leverage this facial recognition technology to understand their customers better. The deal was concluded for an undisclosed amount, according to sources familiar with the matter.
Uniphore Technologies was founded back in 2008 by Ravi Saraogi and Umesh Sachdev and in the past decade, the Indian software start-up has crossed international boundaries and has expanded its operations in the United States, Japan and Singapore. According to a report by Financial Express, Uniphore Technologies will combine its USP product, Conversational Service Automation (CSA) with the Spain-based Emotion Research Labs that leverages Artificial Intelligence to enhance its video-focused emotion analysis technology to further enhance its offerings.
According to company profile on CrunchBase, the Indian software company envisions bridging the gap between humans and machines through voice. Hence, the start-up is known for its transformational customer service that is driven by technology based on Conversational Analytics, Conversational Security and Conversational Assistant. All of these technologies combined changes the way organisations and enterprises engage and interact with their customers.
When asked about the prospects of the acquisition, Uniphore Technologies mention that acquiring Emotion Research Lab’s Artificial Intelligence solutions will enable the company to enhance and deliver its voice and video-based Artificial Intelligence products to organisations by the second half of 2021, as mentioned in a report by Financial Express. Furthermore, this acquisition will also allow Uniphore to expand its operations in Spain and other European markets as well by Financial Year 2022.
Umesh Sachdev, Chief Executive Officer and co-founder, Uniphore Technologies mentioned in a public statement that the COVID-19 pandemic has reshaped consumer preferences and traditional consumer behaviours. He added that universally the use of video content has increased across a wide range of applications.
According to company data on CrunchBase, the company has till date raised total funding worth USD 80.9 million in over 6 financing rounds and it successfully concluded its acquisition of Emotion Research Lab on January 21, 2021.
In these times, almost every start-up and established enterprise is using some form of Artificial Technology solution to enhance its business operation. Conversational AI that is used in Chatbots and virtual assistants are lacking accuracy in the market, not just in India but in global companies as well. This makes the prospects of this acquisition even more significant as audio and video-based Conversational Artificial Intelligence is definitely an important tool for businesses around the globe.