European technology investor Amadeus Capital Partners has made the first investment from its latest UK early stage fund, the Amadeus IV Early Stage Fund, which held a first close at £33m in January this year.
Amadeus is leading a £750,000 seed financing in VocalIQ, a spin-out from the University of Cambridge’s Dialogue Systems Group. Cambridge Enterprise is also investing in this round.
VocalIQ has developed proprietary software which uses machine learning to improve dialogue interactions automatically in voice-activated systems. The global voice recognition market was valued at $53bn in 2012 and is forecast to grow to $113bn by 2017.
Amadeus partner Hermann Hauser said, “VocalIQ’s team are a smart group who have identified a need for enhanced customer experience in speech technologies and are applying a combination of deep technical knowledge and commercial understanding to that need. With this funding, they will be able to expand the team and develop specific applications for commercial deployment. We are delighted to be on board.”
Hauser will represent Amadeus on the Board of VocalIQ.
Since its inception, Amadeus has raised over £600m for investment and backed more than 85 companies in communications technology, cleantech, medtech, financial services, software, digital media and e-commerce.
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