Amsterdam’s Amberscript acquires two competitors with financing from Endeit Capital

Picture Credit score: Amberscript

Amsterdam-based Amberscript, a startup specialising in AI-enabled speech-to-text engines, introduced on Wednesday that it has acquired two of its rivals – abtipper.de and uittypt.nl.

Endeit Capital, which invested €8M in Amberscript in 2021, financed the acquisition.

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With these acquisitions, the Amsterdam firm goals to cement its place because the market chief within the Netherlands and Germany. 

Concurrently, abtipper.de and uittypt.nl will profit from Amberscript’s technological lead within the European market and might now use Amberscript’s generative AI.

Each corporations will proceed to function below their names after the acquisition. 

Peter-Paul de Leeuw, founder and CEO of Amberscript says, “The marketplace for subtitling and transcription is creating quickly, partly as a result of laws and platforms corresponding to YouTube.” 

“To broaden our lead and additional form our worldwide ambitions, we acquired abtipper.de and uittypt.nl. They bring about in information, prospects, and extra workplaces overseas, whereas the acquired corporations can use our generative AI engine,” provides Leeuw. 

Amberscript: Transcribe audio and video with accuracy

In Europe, the subtitling and transcription market is rising quickest in Germany and the UK. 

A big a part of the suppliers in Europe are companies that course of audio manually. Aside from a number of American corporations, Amberscript is the one firm that efficiently makes use of (generative) AI and machine studying on the European degree for subtitling and transcription.

Based in 2017 by Peter-Paul de Leeuw, Thomas Dieste, and Timo Behrens, Amberscript has created a specialised AI-enabled speech-to-text engine to ease handbook transcription efforts. 

Its SaaS software program permits customers to robotically transcribe audio and video into textual content utilizing speech recognition.

The corporate claims to supply subtitles with the best accuracy available in the market and delivered eight instances quicker than conventional handbook strategies. The platform is utilized by journalists, scientists, college students, medical doctors, legal professionals, and plenty of others globally.

Since 2018, the Dutch firm counts numerous arms of each German and Dutch governments, universities, public tv broadcasters, and firms like Disney and Puma amongst its shoppers.