Alchemy Machinesm an AI startup using Natural Language Processing (NLP) and Automatic Speech Recognition (ASR) to transcribe, analyse, and summarise legal-specific web meetings and phone calls, has raised USD400,000 in a pre-seed funding round led by SFC Capital.
The funding – which includes Innovate UK grant funding – will support further development of the platform and growth of the team.
Alchemy Machines’ software produces transcriptions that capture not only the words spoken but also the emotion and sentiment behind them. Founder and CEO, Dia Thanki and her team, developed the platform with the aim of reducing transcription costs for law firms and freeing up increasingly overburdened trainee lawyers and secretarial staff, to focus on high-value work.
Tailored to the requirements of UK GDPR laws, Alchemy Machines’ platform also enhances users’ data protection and privacy, providing protection from the risk of negligence claims if notes are misplaced by storing all information securely. It also offers the ability to anonymise the voices of meeting participants.
