We missed this earlier: In what is an important development for Indian language enabling of India's Internet, Reliance Industries has acquired a majority stake in Reverie Language Technologies: RIL, India's largest business conglomerate, has acquired an undisclosed majority stake for Rs 190 crores (around $27.3 million a current conversion rates), and will invest Rs 77 crores (almost $10 million) by March 2021. The investment has been made via Reliance Industrial Investments & Holdings (RIIHL), a wholly-owned subsidiary of Reliance Industries. Reverie will work towards integration of its Indic language localization services with RIL's digital consumer platforms. It will continue to operate independently, and serve its existing clients. Started in 2009, in 2015, Reverie had raised $4 million from Aspada Investment Company, with participation from Qualcomm Ventures in 2015. In a blog post, the company points says that: Indian language standards have not received due attention from Indian companies solving Indian problems. And, sometimes the standard developments have been influenced by foreign companies for whom India is a focus market but Indians are not at the core of it. Reverie intends to work with government regulatory bodies to establish Indian language standards keeping the interest of Indians in mind. What's interesting to note is that Reverie provides a voice suite (called Gopal) in 12 Indian languages (Hindi, Kannada, Telugu, Tamil, Malayalam, Bengali, Marathi, Gujarati, Assamese, Odia, Punjabi and Indian English), which can be integrated with both chatbots and Interactive Voice Response (IVR) solutions which companies can use to engage with non-English…
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