Funds for Conversation Analyst Klang

Swedish AI company Klang is raising SEK 15 million ($US 1.5m) to further develop its software, which allows users to search and analyse conversations, providing transcriptions, summaries and insights. Funds will also support expansion in Japan and northern Europe, and around ten hires.

As part of the investment, which values the company at SEK 150 million ($15m), Klang is developing its own AI models for real-time speech and conversation - in the long-term it wants to create 'a complete, searchable memory of the conversations of companies and organisations, where AI understands not only what was said, but also context, nuance, dialects and how different conversations connect.'

The round is supported by existing owners and led by Johan Lenander, entrepreneur and tech investor, together with Emil Sjödin, founder of Refined, and Daniel Gadd, co-founder of Position Green, among others.

'We want to create a perfect memory of every conversation - a memory that not only remembers what was said, but also understands the conversation as well as, or even better than, the people in the room,' says CEO Niklas Silfverström.

Klang launched in Japan on 12th August, providing a Japanese interface and web and mobile platforms localised for the market. Other initial expansion is targeting the Nordics, Benelux and the DACH region.

The new recruits will be in areas including research, development and marketing, but the firm says it needs many fewer staff than it would have done. 'AI is changing not only the product we build but also how we build the company,' continues Silfverström. 'A small, technically strong team can today achieve what used to require a much larger organisation. Now we above all want to pick up the pace in research, product development and distribution.'

The firm is online at www.klang.ai .