Investors and Private Companies and Tech Companies and Banking & Finance and Investing and Angel Investors and Manufacturing & Technology and Technology

Speech recognition technology firm gets cash infusion

November 3, 2012

An Indianapolis firm developing speech recognition technology has received another chunk of angel investment.

Waveform Communications LLC didn’t disclose the investor who provided $22,500 toward its R&D work. An earlier angel investor provided $100,000 to the company based at Purdue Research Park near Indianapolis International Airport.

“These funds will allow the company to purchase resources to remain on an aggressive timetable to develop the applications,” said Michael Stokes, president and CEO of Waveform.

Stokes also said his firm is collaborating on R&D with the Indian Institute of Technology Guwahati to extend the company’s model to the Hindi language. Stokes’ work is based on a model of vowel perception and production.

Last year, Waveform was recognized as one of the top 50 startups in the world by the Ewing Marion Kauffman Foundation.

It’s not the only Purdue Research Park tenant drawing attention from investors.

Last month, the biggest tenant in the park, Scale Computing, received a $12 million investment from venture funds to help with the launch of its “datacenter in a box” product.•

ADVERTISEMENT

Recent Articles by IBJ Staff

Comments powered by Disqus