Google is reportedly in advanced talks to invest $4 million in CoRover, a Bengaluru-based conversational AI startup. This development follows a non-equity funding of $500,000, most of which has been disbursed since March, with the remainder expected by December.
CoRover, the startup behind the BharatGPT, an indigenous large language model, has caught the attention of the tech giant. BharatGPT stands out with its support for over a dozen Indian languages, as well as more than 120 foreign languages. This breadth of linguistic capability outstrips OpenAI’s ChatGPT, which currently operates in 95 languages.
The investment by Google, as sources revealed to Economic Times, is set to boost CoRover’s position in the market. BharatGPT’s prowess lies in its ability to handle various data formats including text, audio, video, and maps, which is a step beyond the text-centric ChatGPT.
CoRover’s website boasts of the chatbot’s versatility, highlighting its integration capabilities across multiple platforms such as SAP, Salesforce, Signal, and Zoom. The AI solution’s accuracy level is reportedly around 90 per cent, leveraging a vast internet data repository for contextual and relevant information responses.
The startup’s services are already in use by several major organizations including IRCTC, LIC, Max Life Insurance, NPCI, and the Government of India, serving over a billion users.
The potential $4 million investment signifies Google’s confidence in CoRover’s technology and its prospects in the burgeoning AI market. The investment, proposed as equity, is contingent upon the launch of the chatbot in the coming weeks.
Google’s strategic partnership with CoRover extends beyond funding. The tech giant provides crucial cloud computing credits, bolstering the startup’s technological capabilities.
This move comes hot on the heels of Adobe’s acquisition of another Bengaluru-based AI-video creation startup, Rephrase.ai, signaling a heating up of the Indian AI startup space.
BharatGPT’s ability to integrate with custom knowledge bases, ERP, CRM systems, and APIs for real-time transactions positions it as a versatile and powerful tool in the AI landscape. The system’s adaptability to incorporate contextually relevant information makes it a valuable asset for diverse sectors and use cases.
The investment by Google, once finalized, is expected to significantly boost BharatGPT’s scalability and market reach, marking a pivotal moment in the journey of CoRover and the Indian AI industry at large.