Murf, a startup that provides AI speech services, raised $10 million in a Series A funding, as it revealed on Tuesday.
The funding round was led by US-based private equity investment firm Matrix partner. There were several angel investors in the round as well, including Disney Streaming SVP of product, Mad Street Dap founder Ashwini Asokan, and others.
Founded by Indian friends Sneha Roy, Ankur Edkie and Divyanshu Pandey, the company had taken off with a $1.5 million seed that helped it higher talent and grow users.
Since launching, Murf has grown its Annual Recurring Revenue (ARR) by 22 times since it rolled out in January 2021, according to a TechCrunch report. Also, it has digitised over a million voice over projects that cover different speaking styles and tones.
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The startup has had some rather interesting success stories including a YouTube influencer using AI voice to create a rap video and an entire film created using the company’s voice services by a tech artist.
Murf’s main clients include those creating advertising, audiobooks, explainer videos and e-learning content. It targets both content creators and small businesses. The company aims to provide better sounding natural voiceovers that would not sound cringe.
Arguing why it is the better option, Murf CEO Ankur Edkie says that it helps content creators and marketing teams cut cost and save time. Edkie says it is a better option than buying recording equipment to record voices or outsourcing the process.
The company makes its money from subscription plans but faces an uphill task when companies like Google offer something similar at no cost. Although, its multiple accents and styles give it an edge for sounding more natural.
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