Interest in generative AI ventures high: Fireflies AI CEO Krish Ramineni
generative technology and may consider raising funds early next year to support expansion plans. Ramineni, during his India visit spoke to PTI about the rapid growth in AI and startups in India and the Silicon Valley.
He said at present there is a lot of interest and appetite for generative AI startups.
Fireflies.ai helps your to transcribe, summarize, search, and analyze voice conversations.
On its fundraising plans, Ramineni said, «We have potential plans to look into it at the start of next year. There's definitely a lot of interest and appetite for generative AI startups right now, but we're operating well and we're pretty capital efficient, so we have plenty of runway,» he added.
Launched just before the pandemic in January 2020, the San Francisco-based company has raised $19 million until now.
Fireflies.ai operates in 20 nations and has offices in Delhi, Hyderabad and Bengaluru in India.
«The perfect catalyst was Covid and the remote work push that happened in 2020. So we raised our seed round in 2019, and then in 2020 January we launched the company.
A few weeks later COVID started, everyone was on Zoom or some sort of video conferencing platform. That was a huge accelerator for us then,» he said.
Ramineni said the company is building on top of its transcription offering with generative technology.
«With the generative AI hype and all that's happening with Chat GPT, we're seeing how transcription is just the foundational layer and you can do so much more on top of it.
