LTIMindtree is set to invest $6 million in the AI startup Voicing.

 

LTIMindtree, through its United States subsidiary, has reached an agreement to invest $6 million in Voicing.AI, a startup based in the US that has been operational for eight months. This investment aims to support the development of an "Agentic AI" solution designed to enhance customer engagement processes. 

According to the announcement made to the stock exchanges, "LTIMindtree USA Inc., a wholly owned subsidiary of the Company, executed a definitive agreement on December 3, 2024, with Voicing.AI, Inc. ('Voicing.AI'), which specializes in autonomous platform operations. The agreement stipulates an investment of up to $6 million in convertible instruments to be issued by Voicing.AI.

" The investment is expected to be completed within seven days of the agreement, allowing LTIMindtree USA Inc. to acquire convertible instruments that may convert into minority common stock in Voicing.AI, subject to the conditions outlined in the definitive agreement.

Founded in April of this year, Voicing.AI is an autonomous platform operations solution that focuses on voice AI autonomous agents and has a presence in the United States.

"Our investment in Voicing.AI is intended to transform the way businesses engage with their customers through intelligent automation and artificial intelligence," stated Debashis Chatterjee, CEO and Managing Director of LTIMindtree.

As the sixth-largest IT firm in India, LTIMindtree plans to assist clients in integrating Voicing.AI with their bespoke tools, both structured and unstructured knowledge bases, customer relationship management systems, and leading call management platforms. "Voicing.AI is fundamentally revolutionizing the extensive customer engagement market by driving new revenue growth, personalizing customer interactions, and promoting a human dialogue between businesses and their customers," remarked Abhi Kumar, co-founder of Voicing.AI.

In a recent discussion with ET, Chatterjee noted that the technology landscape is undergoing significant changes, particularly with the emergence of AI, and LTIMindtree is concentrating on enhancing its platform operations business. "We have been investing in this area for the past two years. Our current advantage lies in our ability to adopt an AI-first approach as we enter the platform space. We can potentially disrupt competitors' revenues since we have little to lose. Expect to hear some announcements in the next two to three weeks. We are also aggressively targeting areas where we can create significant disruption, which we have not previously explored," Chatterjee added.

He further mentioned that clients of software service providers like LTIMindtree are not inclined to invest heavily in large contracts but are instead pursuing smaller deals. Additionally, the competition for traditional IT companies is expanding beyond tier-I and tier-II firms to include global capability centers (GCCs) that insource technology services for their clients.