New Delhi, Aug. 18 -- US-based AI voice startup Wispr Flow has raised $280 million in Series B funding at a $2 billion valuation, with India-focused venture capital firms Peak XV Partners and Together Fund among the new investors in the round.
The round was led by existing investor Menlo Ventures and saw participation from existing backers Notable Capital, NEA, Neo Ventures, 8VC and MVP Ventures. New investors included Acrew, Activate, Forerunner, Goodwater, Peak XV, Together Fund and PLUS Capital, along with a group of athletes, artists and cultural leaders, the startup said in a statement.
The fundraise brings Wispr Flow's total capital raised to $361 million and comes less than a year after its previous round, which valued the company at about $700 million.
Founded in 2021 by Stanford graduates Tanay Kothari and Sahaj Garg, Wispr Flow develops an AI-powered voice dictation tool that allows users to speak into applications and workflows instead of typing. Its Flow product converts speech into polished text and is used across professional and enterprise workflows.
Peak XV has been increasing its investments in US-based AI and software startups as part of a broader push beyond India. It recently led a $50 million round in US-based voice AI startup Vapi and has backed overseas companies including Primer, Exaforce, PostHog, MarqVision and Hyperbound.
Alongside the fundraise, Wispr Flow has launched Canto, its first proprietary speech model. The company said the model can reduce word error rates in difficult conditions from more than 30% to between 5% and 10%. It also plans to use the fresh capital to further develop its speech technology and expand its products.
Wispr Flow said its users have now generated more than 60 billion words through the platform. The company is also used by employees at almost all Fortune 500 companies and more than 10,000 enterprises.
Published by HT Digital Content Services with permission from VC Circle.