DENCOMM, an AI Voice Recognition Solution, Raises $7.5 M in Series A2 Funding

DenComm(덴컴), an artificial intelligence (AI) voice recognition solutions startup, has raised $7.5 million (KRW 1 billion) in Series A2 funding. This brings DenComm’s cumulative funding to more than $12 million (KRW 1.6 billion).

This round of funding comes approximately one year and three months after the company raised $4.5 million (KRW 6 billion) in Series A funding in November 2022. The investment was led by STASSETS Investment with participation from DSC Investment, T.S. Investment, Hana Financial Investment and KB Securities. T.S. Investment and Hana Financial Investment made follow-on investments.

DenComm has developed Densper™, an AI speech recognition engine specifically designed for the dental industry. Densper™ combines DenComm’s specialised speech data learning and natural language processing technology to provide advanced speech recognition capabilities for the dental industry. It has over 99% speech-to-text (STT) accuracy and supports multiple languages, including English and French, in addition to Korean.

DenComm has developed a range of voice AI solutions based on its proprietary technology, Densper™, including Voice Charting, which allows doctors who do not have both hands free during treatment to automatically create digital charts by voice. Other solutions include the Multilingual Consultation Solution, which provides simultaneous interpretation for foreign patients, and the Voice Viewer Controller, which allows doctors to control dental images, including CT scans, using their voice.

DenComm plans to use the funding to hire R&D staff, build AI infrastructure, additional training data and global marketing, and will actively pursue overseas markets by setting up a US subsidiary in the first half of this year, offering customised solutions that reflect the needs and characteristics of local markets.

byung joon Lim, CEO of DenComm, said, “DenComm’s goal is to lead innovation in the medical field and enable better healthcare services through speech recognition AI technology optimised for the dental field.” “This investment will not only provide DenComm with an important foothold to enter the global market, but will also help establish a competitive advantage in the global market. With this foundation, we expect to generate full-scale domestic and international revenues”.