Seoul-headquartered car maker Hyundai Motor Company and Tokyo-headquartered international public relations company Dentsu Inc. have invested $5 million each in Tel Aviv-based audio search startup AudioBurst Ltd., the latter announced Monday.
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Founded in 2015 and headquartered in Palo Alto, California, AudioBurst offers indexing services for spoken content, including automated parsing and tagging technologies. It also operates a search engine capable of locating words or phrases within recorded speech audio segments.
As part of the investment deal, AudioBurst will collaborate with Hyundai and Dentsu to develop personalized voice-based advertising and in-car infotainment services.
The company also announced plans to launch its products and services in Japan by the end of 2019.
The latest investments bring AudioBurst’s total funding raised to $25 million to date. Existing investors in the company include Tokyo-based radio station Nippon Broadcasting System Inc., Samsung Ventures, Tokyo-listed speech recognition company Advanced Media Inc., Israeli venture capital fund Flint Capital, and Tel Aviv-based investment firm 2B-Angels.