IPERVOX, a startup that enables the quick and intuitive creation of voice applications, has closed a €300,000 investment round in which CDP Venture Capital Sgr – Fondo Nazionale Innovazione through the Fondo Acceleratori participated with an investment of €150,000, LVenture Group and some business angels.
The startup, founded by two Italian-Albanian under-35s and born in Albania in the Uplift accelerator, was accelerated by LUISS EnLabs, LVenture Group’s startup accelerator, successfully completing the Acceleration Program in June.
IPERVOX has developed an online platform that allows anyone, even those with no programming experience, to create voice applications in just a few minutes, almost totally breaking down the barriers to entry in an industry that requires specific skills and high time and costs. Thanks to IPERVOX, entrepreneurs and content creators who want to focus on voice can concentrate exclusively on the quality of their content, without worrying about the complexity of the technical infrastructure. IPERVOX also helps companies reach their customers by increasing engagement on voice platforms such as Amazon Alexa, Google and Siri.
The development of voice technologies is a fast-growing market sector: today, 50% of online searches are carried out using voice and it is estimated that, by 2024, the global smart speaker market could reach $30 billion, while voice-based online shopping is expected to exceed $40 billion by 2022.
“Boosting the growth of companies that can intercept future trends and develop enabling technologies to innovate systems and processes within companies is one of the objectives of our Fund and IPERVOX is among the forerunners of a market sector with a very strong potential for expansion, so we are excited to support it.” Commented Stefano Molino, Head of the Accelerator Fund of CDP Venture Capital SGR – Fondo Nazionale Innovazione.
“Today, the impact of voice technology is vast, thanks to its ease of use, which is changing not only the way people consume and buy, but also the marketing strategies of large companies globally. We are convinced that IPERVOX, thanks to a team with unique industry expertise, will be able to grow rapidly internationally,” said Luigi Mastromonaco, Head of Investments & Portfolio Growth at LVenture Group.
“With 94% of brands willing to invest in voice apps, the problem I encounter most frequently when talking to small and large companies is that many still don’t know how to integrate voice technologies into an effective business strategy. Through this investment and our expertise, we are enhancing the platform to help companies create significant impact through what is expected to be the dominant communication channel of the coming years: voice. We are proud to be one of the voice-first startups to be ahead of the times: we want to help bring Italy to a leadership position also in this sector”, commented Juxhin Radhima, CEO of IPERVOX.