VerSe buys AI-startup Cognirel Tech
This month, VerSe Innovation raised $100 million-plus in a funding round led by Qatar Investment
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Bengaluru: Local language technology platform VerSe Innovation on Tuesday announced that it has acquired Cognirel Technologies, a Bengaluru-based AI solutions provider. VerSe will bring on board Cognirel Founder Ram Prakash to head its newly instituted AI Lab, it said in a statement.
Financial details of the transaction were not disclosed. "This acquisition bolsters VerSes commitment to creating cutting-edge digital capabilities to serve the emerging content needs of millions of consumers using technology", it said.
"Today, VerSe Innovations proprietary technology platform powers 300 million-plus users to consume content in their local language on Dailyhunt", the statement said. The acquisition of Cognirel is Bengaluru-headquartered VerSes first since becoming a Unicorn in December 2020.
