Hyundai, Dentsu Back Audio Search Engine AudioBurst With $10 Million Investment
CTech – Seoul-headquartered car maker Hyundai Motor Company and Tokyo-headquartered international public relations company Dentsu have invested $5 million each in Tel Aviv-based audio search startup AudioBurst, the latter announced Monday.
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, Samsung Ventures, Tokyo-listed speech recognition company Advanced Media, Israeli venture capital fund Flint Capital, and Tel Aviv-based investment firm 2B-Angels.