IIFL Fintech Fund Picks Up 10% Stake In Gen AI Startup Vitra.Ai

Marking its first investment in a generative artificial intelligence (AI) startup, IIFL fintech fund has picked up a 10 per cent stake in Vitra.Ai, a specialist firm dealing in advanced language translation solutions powered by Gen AI. Vitra.ai has a complete product suite to translate videos, images and websites into more than 75 languages with one click. However, the investment amount has not been disclosed.

Vitra.ai has a patented technology model that helps in language translation and its delivery on a global scale. The company provides accuracy, contextual understanding, and real-time translation capabilities. Vitra.ai is already working with large Indian companies like IIFL, HDFC Bank, ICICI Bank, Bajaj Finserv, Swiggy, Zepto etc. for their language translation needs.

Mehekka Oberoi, Fund Manager, IIFL Fintech Fund, said, “Generative AI represents a transformative opportunity to push the boundaries of what’s possible and create solutions that are not only efficient but also deeply intelligent and adaptive. Language translation for all marketing content is becoming the need of the hour to reach out to all customers. Vitra's solution enables this connect seamlessly and in a click.”

Satvik Jagannath, Founder, Vitra.ai lauded the investment as a testament to the value and potential of its Gen AI technology. He stated, “With the new funding round, we are poised to advance our capabilities and deliver innovative solutions that bridge language barriers more effectively than ever before. Our technology will connect with customers globally.”

As far as the global language services market is concerned, the language translation segment alone is worth USD 20 billion to USD 25 billion. This includes both human translation services and machine translation technologies. Gen AI language translation is growing at 25 to 30 per cent compound annual growth rate (CAGR) and is expected to be the fastest-growing sub-segment in this industry.