Romanian company Vatis Tech announces a new funding round worth 650.000 euros. Existing investors, Early Game Venture, Sparking Capital, led the round and Mălin Ștefănescu as an angel investor.
The new capital flow will allow the company to increase sales in Romania in order to reach a larger market share, but also to expand operations in at least one more European market, Spain, Germany and France being targeted.
Currently, Vatis Tech’s accuracy ratio in Romanian is over 95%, while Google or Microsoft gets 85%. The technology is successfully used in several industries such as media, legal, medical, and call centers.
The company launched new transcription models, designed for specific termed areas, such as medical or legal, but also for call centers, a huge transcription needs economic field.
To develop the local market, Vatis Tech has signed agreements with several partners including Vodafone and with their help a series of pilot projects in different industries will be launched in Q1 2023.
Since launching its technology, Vatis Tech has broken the record of 3.1 million transcribed notes. Currently, more than 20 companies use its technology, including Klarmedia, Unicredit, Voyo or Termene.ro.