vPhrase Analytics raises gets backing from Bharat Innovation Fund and Falcon Edge Capital

As per the news reported in Vccircle, AI-backed vPhrase Analytics has raised series A funding round from Bharat Innovation Fund and Falcon Edge Capital. In a total, the firm raised $2 million (Rs 14.31 crore).
vPhrase works on Natural Language Processing (NLP) technologies and will use the funds for further expansion worldwide. The focus is to further augment it’s newly created product, Explorazor which as per the company is powered by NLP based generation engine and machine intelligence.
This is in continuation of their existing product, Phrazor. Founded by Neerav Parekh in 2015, the company boasts of the clients like HDFC Bank, Fidelity International, Kotak Bank, Sony Pictures and Abbott.
Bharat Innovation Fund is a venture fund and this investment completes their $100-million venture fund investment category target for this fiscal. It has also invested in companies like ride-hailing unicorn Ola, classifieds portal Quikr, digital lender OfBusiness, nonbanking financial business JM Financial Credit Solutions as well as real estate firm Housing.com.