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VerSe Innovation Acquires AI Startup Cognirel Technologies




News aggregator Dailyhunt and short video platform Josh’s parent company VerSe Innovation announced on Tuesday that they have acquired Bangalore-based artificial intelligence (AI) solution provider Cognirel Technologies.

With this acquisition, VerSe has welcomed Cognirel founder Ram Prakash to lead the newly established AI lab.

According to an official statement, AI Labs will focus on enhancing and developing cutting-edge models through computer vision and deep learning innovations to understand video content from a visual, audio, semantic, and sociolinguistic perspective. I guess. Enables better user recommendations and experiences on existing platforms. We will also undertake basic research to promote the frontiers of AI and machine learning (ML) as we rebuild India’s content landscape.

“AI Labs uses non-invasive, implicit behavioral signals to actively pursue neuroscience-inspired RL (reinforcement learning) experiments to increase user engagement and usefulness. , Understand the user’s favorite profile, “the company said.

Welcomed Ram and his team of scientists, VerSe Innovation founders Virendra Gupta and Umang Bedi said:

“We are inspired by Rams’ deep curiosity and understanding of the Indian language environment. His achievements in the fields of AI and ML preceded him, and he has an outstanding team and expertise. We believe that it will have a real impact on local language users. Dailyhunt and Josh reach and scale.

Umang Bedi and Virendra Gupta

“We are very proud of VerSe’s momentum, and this acquisition takes the strategic expansion path of the Bharat-focused app family one step further. Ram will lead the AI ​​and ML labs. With that, we are also confident. In our ambition to bring our products to digital emerging markets around the world, it has very distinct regional characteristics.

The technology-driven acquisition of Cognirel is VerSes for the first time since becoming a unicorn in December 2020.

In his new role as Head of the VerSe Innovation AI Lab, Ram said: AI and ML have been my passion for 20 years. When we created Quillpad, the first ML-based transliteration tool for the Indian language, we saw a unique opportunity to apply cutting-edge advances in AI and ML to the Indian language. Today’s best AI / ML approaches cannot be easily applied to the Indian language without the availability of high quality labeled data. Multiplying this by the number of languages ​​we have makes the problem exponentially complex.

“The current approach consumes a lot of data and does not label the data to solve the NLP / NLU (Natural Language Processing / Natural Language Understanding) tasks of Indian languages. Our language is essential. It’s different from English, but it’s linguistically well-understood. You can take advantage of it. Reduces the need for labeled data. The Dailyhunt and Josh ecosystem provides a great platform for pouring live live data and doing basic AI tasks on a large scale, all of which. Building a solution to understand is exciting.

Earlier this month, VerSe Innovation raised $ 100 million in Series H funding led by the Qatar Investment Authority, a global investor, a sovereign wealth fund in Qatar. And Grade Brook Capital Partners.

In December 2020, VerSe raised $ 100 million from Google, Microsoft and AlphaWave.

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