Iris Audio, a startup that uses AI to isolate voices and remove background noise from calls, just raised $7 million with this 13-slide pitch deck
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- Iris Audio has secured $7 million in Series A funding from Puma Private Equity.
- The London-based startup uses AI to detect and remove background noise from calls.
- Check out the 13-slide pitch deck it used to bag the fresh funding.
A startup that has developed an AI-based voice isolation technology just raised $7 million in Series A funding from Puma Private Equity.
London-based Iris Audio deploys its technology to “intercept comms channels and improve the quality of the audio in real time,” founder and CEO Jacobi Anstruther.
Its product, Iris Clarity, uses AI to detect and remove any disruptive background noises from calls — and has found a booming customer base across call centers that use the tech to improve their call quality and customer experience.
AI startups have had a bull run since the launch of ChatGPT-3 in November, with investors eyeing glossy new applications of the technology across everything from healthcare to the creator economy. In Europe, AI design startup Creative Fabrica secured $61 million in January, with voice intelligence startup ElevenLabs set to raise $18 million just two months after its $2 million pre-seed in January.
Iris Audio’s software can be deployed across everything from voice calls to videos, podcasts, and audiobooks.
The software is currently applied across three main sectors, the first being ‘mission critical’ services from motor racing, emergency services, and aviation, which have multi-channel radio systems. Its second use case is its biggest client base: call and contact centers, which it claims have shortened their average handling time of calls by 11% due to a reduction in background noise. It also deploys its tech to enterprise clients in the data analytics space, to clean up voice-to-text translations to get higher accuracy rates.
“All proprietary technology is developed by our team and patented,” Anstruther told Insider. As a SaaS enterprise business, the startup charges a monthly fee to use the technology on a per-user basis. “It’s highly scalable and it’s a strong revenue model which is what attracted Puma,” Anstruther told Insider.
Amid a more challenging funding landscape, the startup secured funding from Puma Private Equity, the PE arm of Puma Capital, which has backed the likes of Open House and Everpress. Additional participation came from existing investors, the Ojjeh family, Tag Group, and cofounder of LLamasoft, Toby Brzoznowski.
Although operating in the buzzy AI sector, Puma investment director Harriet Rosethorn told Insider that the team and market fit were the key reasons for backing Iris Audio, rather than the appeal of the sector.
With the capital injection, the startup will focus on expanding its team and footprint across the UK and into the US.
Check out the 13-slide pitch deck used to raise the funding.