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Ukrainian VC TA Venture has backed Western startups in the past, but this time a US-based startup with Ukrainian roots gets funding, originally aiming at $900K, but oversubscribing the round to $1,5 million. TranscribeMe, founded by Alexei Dunayev, helps to quickly search for audio and video content. This is achieved by converting the audio into text using the voice recognition combined with the crowdsourced transcription workforce.
The company performs works for businesses in the areas such as healthcare, market research, conferences, and academics.
The service is said to be 500 percent more efficient compared to the existing methods, primarily due to the automation.
For the Russian and Ukrainian customers the service is available here.
We are familiar with a Hungarian firm Skawa, that performs the transcription purely on the micro-tasking basis, which in Hungary alone has over 20,000 workers signed up in the system. Automatic voice processing should significantly improve the speed of those tasks, but nonetheless, quality processes must be robust to guarantee solid end results.
Other investors included TEC Ventures, Tech Coast Angels, Sierra Angels, ICE Angels and Maverick Angels. Amongst TA Venture portfolio are Bravoavia (flight booking), Linguee (translation search engine), UK-based Fantasy Shopper (gamified social fashion shopping platform), Tailored (bridal ecommerce), Mile High Organics (online organic food shop), WeHostels (social hostels), Urbanara (online textile shop) and AdoreMe (online lingerie club).
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