Amberscript raises $10 million

The Series A round was led by Endeit Capital, a German-Dutch venture capitalist.

Start-up Ambercsript has successfully closed its Series A funding round, raising ten million US dollars. The Series A round was led by Endeit Capital, a leading German-Dutch venture capitalist founded by the former management team of media company Endemol. Amberscript's mission is to make audio and video accessible. Using AI speech recognition software and translators, the startup produces subtitles and transcripts in 13 languages. In doing so, the company aims to be eight times faster than previous manual methods.

"With universities alone already producing more than 50 hours of video on average every day, it has been virtually impossible to fully transcribe and format the required amount of subtitles manually," says Peter-Paul de Leeuw, founder and CEO of Amberscript. "That's why we've spent the last three years investing in experienced tech talent and our technology, and further developing our AI-powered technology to automate and streamline this process as much as possible." With the help of recent inventions, Amberscript is now set to become the world's leading tech company for speech recognition and subtitling solutions. As a first step, the company wants to improve its AI solutions and expand more in the German and Dutch markets.

Amberscript's customers already include departments of the German and Dutch governments, universities, public broadcasters and companies such as Disney and Puma. The company's technology, launched in August 2021, generates subtitles that are even said to meet the standards of Netflix and the BBC. The tool is said to work internally in web browsers.