Flipkart Acquires AI-led Speech Recognition Startup Liv.ai

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Flipkart has acquired Liv.ai, an artificial intelligence-led speech recognition startup. The company, however, did not disclose the deal amount.

Post the acquisition, Liv.ai will become a Flipkart centre of excellence for voice solutions, and help accelerate an end-to-end conversational shopping experience for its users, Flipkart said in a statement.

Founded in 2015, Liv.ai is the first Indian company to build a speech to text application programming interfaces (APIs) that enable speech to text conversion in 10 Indian languages including Hindi, Bengali, Punjabi, Marathi, Gujarati, Kannada, Tamil, Telugu and Malayalam. US retail giant Walmart has recently completed its USD 16 billion transactions to buy 77 percent stake in Flipkart.

Flipkart CEO Kalyan Krishnamurthy said, “The next wave of growth of internet users is coming from tier II+ cities and 70 percent of these current internet users are native/vernacular language speakers and this proportion is only increasing,”

Krishnamurthy said, “Ultimately, we want to give our customers a conversational e-commerce experience and believe that with the voice interface the opportunities are endless including discovery, search, engagement, transactions etc”.

Flipkart said this will help build voice and speech capabilities to help get next 200 million online shoppers, who will prefer native language interaction on the web.

The team under the leadership of Ravish Sinha, Vice President Flipkart, will act as a center of excellence to drive further developing the voice solutions, integration with Flipkart app and developing use cases for various categories.

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