Canaan Leads Series A in Nagish to Break
Down Barriers, Address Daily Challenges for Millions of Deaf or
Hard-of-Hearing Individuals
NEW
YORK, July 10, 2024 /PRNewswire/ --
Nagish, an innovative startup using AI to make communication
accessible for deaf and hard-of-hearing individuals, today
announced $16 million in funding.
This includes $11 million in Series A
led by Canaan Partners, with participation from existing investors
K5 Global, Tokyo Black, Cardumen Capital, Vertex Ventures Israel,
Contour Venture Partners, and Precursor Ventures, as well as the
founders of Datadog and Looker. This financing complements Nagish's
$5 million seed round. It will fuel
the continued development of Nagish's AI-powered communication
tools to transform how more than a billion people with hearing loss
communicate, share information, and work.
"Nagish is not just another AI app. It's a catalyst for
empowerment, independence, and social inclusion, inspiring a new
era of communication for millions of individuals with hearing
loss," said Laura Chau, partner at
Canaan. "Nagish exemplifies the
profound impact that AI can have on society, making inclusivity and
accessibility a reality for millions."
Nagish's mission is to bridge the communication gap faced
by the hard-of-hearing community, leveraging advanced AI to create
accessible, intuitive, and practical tools. With this new infusion
of capital, Nagish is set to enhance its product offering, expand
its reach, and ensure that more individuals around the globe can
benefit from seamless communication. These advancements will
empower individuals to connect, learn, and thrive – and
underscore Nagish's commitment to the hearing loss
community.
"This funding is a testament to the critical need for
innovative solutions that address the daily challenges faced by
millions of people who are deaf or hard of hearing," said
Tomer Aharoni, Nagish CEO and
co-founder. "We believe in a future where inclusivity and
accessibility are not just ideals but everyday realities, and
Nagish is pioneering a new era of communication."
Nagish has developed the first end-to-end private relay
service that empowers deaf and hard-of-hearing individuals to
communicate without a third party. The company's flagship product,
an AI-powered speech-to-text and text-to-speech phone app, stands
out for its highly accurate and instantaneous transcription of
spoken language into text. Nagish offers real-time transcription
and customizable text display options, an intuitive interface that
replaces native phone apps, and voice modulation features, making
it a comprehensive communication tool for deaf and hard-of-hearing
individuals. Nagish empowers people with hearing loss to follow
conversations in real-time, enhancing personal interactions and
improving accessibility while keeping calls private and
secure.
Tens of thousands of individuals worldwide have already
experienced the transformative power of Nagish. They point to its
clear benefits in breaking down barriers and enabling users to
communicate independently, with no interpreters, stenographers, or
assistants involved. The company also has partnerships with many
large enterprises, including Comcast,
Pfizer, NBCUniversal, and Amazon, whose
employees use Nagish for personal and business
communication.
Nagish was recently certified by
the Federal Communications Commission (FCC) to provide
telecommunication relay services, a significant achievement that
underscores its commitment to regulatory compliance and user
safety. This certification is a significant milestone for Nagish as
it allows the company to operate as a trusted and regulated
provider of relay services. The certification makes Nagish one of
the few certified providers and further validates Nagish's
commitment to setting new standards for accessibility and ease of
use in relay services.
With this financial backing, Nagish will bring new
products to the market and increase its hiring efforts, bringing
top talent in AI development, product design, and customer support
to ensure its users' continued success.
About Nagish
Nagish is dedicated to
creating AI-powered communication tools for individuals with
hearing loss. By leveraging advanced technology, Nagish aims to
make communication seamless and accessible for everyone, fostering
inclusivity and empowering individuals to connect, work, and
thrive. For more information about Nagish, please visit
www.nagish.com.
Media Contact
Tomer
Aharoni
media@nagish.com
929-248-4054
View original content to download
multimedia:https://www.prnewswire.com/news-releases/nagish-raises-16-million-to-revolutionize-communication-for-individuals-with-hearing-loss-through-ai-302192713.html
SOURCE Nagish