The global text to speech market is anticipated to grow at a considerable CAGR of 15.2% during the forecast period. Significant raise in the funding for text to speech technology providing start-ups to unleash the full potential of this technology in betterment of human life is a key factor driving the growth of the global text to speech market. Vitra.ai, Synthesia, and Gabb among others are the key start-ups that have raised funding for the development of their text to speech service. For instance, in April 2021, Vitra.ai has raised undisclosed amount of fund (ranging between $150,000-$1 million) from Inflexor Ventures, a deep-tech VC as a part of its DeepTech Fellowship Programme with Venture Capital firm 100X.VC.
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In April 2021, AI video generation provider Synthesia had raised $12.5m in Series A funding. The Series A round was led by New York-based FirstMark Capital, an early-stage VC firm with investments in companies such as Riot Games, Airbnb, and Shopify. The raised amount will be used by the company to focus on enterprise user growth and product development. In the same month, Kids’ cellphone startup Gabb had raised $14 million in new funding and counts former BYU and current New Orleans Saints football star Taysom Hill among its new investors. With this funding, the company aims to provide kids a safe first phone with no internet, social media or games that protects them against “internet dangers, inappropriate content and screen-time addiction.”
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Global Text to Speech Market Report Segment
By Type
- Solution
- Service
By End-User Vertical
- Automotive & Transportation
- Enterprise
- Consumer Electronics
- Healthcare
- BFSI
- Education
- Retail
- Others (Entertainment & Government)
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
