Ubona secures growth capital from Capital18

Company Brief

Bangalore, August 4, 2008

Ubona Technologies, a leading provider of speech recognition solutions for businesses and consumers in India, announced today that it has received Series A investment from Capital18. Capital18 is the venture capital and private equity arm of media conglomerate Network18.

Ubona, a Bangalore based company, has developed a unique patent-pending set of systems that can understand what people say, interface with real life applications and trigger appropriate actions in response, to complete the requested task. Ubona’s system offers a seamless experience and highly reliable recognition to customers. It is tailored specifically to the Indian context where people speak in multitude of languages, accents and dictions. The key feature of Ubona’s solution is to address the complex problem of recognition from a very large vocabulary. The company’s vision is to connect vast masses of consumers with providers of content and services using simple and intuitive phone conversations.

Ubona began with the popular Foodie Hotline in Bangalore (080-40700000) which allows callers to look up and connect with the restaurant of their choice by simply saying its name. The company has since been working with a wide range of leading corporates in verticals including finance, travel and entertainment, mobile operators and media companies to create and help them deploy innovative services enabling increased reach and reduced costs.

Ubona was founded by a team of senior professionals with background in mobile solutions and the investment by Capital18 will be used to scale up the team and rapidly deploy solutions to a variety of customers.

“We are extremely excited about this relationship with Capital18. The experience and expertise of our partner backed by the resources of Network18 will definitely help us achieve our vision of rapidly scaling up this new interactive medium”, says Jyotirmoy Chakravorty, Co-founder and CEO of Ubona.

Sarbvir Singh, Managing Director of Capital18 says, “We are excited to partner with Ubona. For over 300 Million Indians with access to a phone, simple voice calls are the easiest medium to communicate. We believe that Ubona has the right technology and capabilities to be the leader in helping businesses connect better with their consumers and serve their vast audience.”

For further information, please contact:

Akshat Jain

Mobile: 9920210948

Email: akshat.met@gmail.com