Both companies use artificial intelligence to auto-summarise meetings
Dubai-based start up Wrappup, which uses Artificial Intelligence (AI) to auto-summarise meetings, has been acquired by US tech firm Voicera.
Wrappup’s iOS and Android apps capture meeting discussions, analyse the audio recordings, and allows easy reviews of the content. Users are then able to organise the most important parts of the discussion as notes and send them to meeting participants.
Founders Rami Salman, Ayush Chordia and Rishav Jalan had initially won the grand cash prize at programming marathon AngelHack’s Global Demo Day in 2015 - after developing the app in just 24 hours. It then became an In5 incubated company and had received a total of $800,000 in backing from the likes of 500 Startups, Dubai Silicon Oasis, Womena and Dubai Angel Investors. It also worked with meeting tools such as UberConference, WebEx and Zoom.
Similarly, Voicera created in-meeting AI assistant Enterprise Virtual Assistant (Eva), which joins meetings and conference calls through voice recognition and machine learning, and provides attendees with full transcriptions, highlights and notes that can be edited and shared.
The acquisition comes in line with Voicera’s closure of its Series A funding round in March, which brought their combined funds raised to $20m. Investors included GV (formerly Google Ventures), Microsoft Ventures and Cisco Investments among others.
“Both companies approached the problems with meetings in synergistic ways. Wrappup’s mobile-first, in-person meeting product complements and extends Voicera’s initial focus on conference calls,” said Voicera CEO Omar Tawakol.
Wrappup CEO Rami Salman said Wrappup was founded to capture the most important moments and details of meeting conversations for easy reference, thus complementing Voicera’s concept of Eva.
“Joining forces with Voicera unlocks that potential beyond anything we could have ever imagined,” he said.
Voicera will unveil the new app available on both iOS and Android platforms, to allow for Eva to join conversations on the go. Eva will listen for important moments, highlight and transcribe them with higher accuracy. Following the meeting, Eva emails the highlights to the user for review.
However, a new feature, Predictive Highlights, will also allow Eva to remotely attend meetings and provide full text and audio transcription access online, in case users cannot physically join the meetings.
They can control functions and use voice-activated or tap-to-highlight commands to add highlights to a meeting summary, or alternatively rely on the automated Predictive Highlights.
“People have too many meetings and [fear of missing out] is a growing concern in our multitasking environment. Sometimes people are double-booked or have to leave early, and Eva allows you to not miss any of the important actions or decisions that stem from the meeting,” said Tawakol.