Lithuanian interpretation startup Interactio has raised $30 million in a Series A round led by Eight Roads Ventures and Storm Ventures. Practica Capital, Notion Capital, Change Ventures, and Angel Investors Jaan Tallinn and Young Sohn also participated. The startup is reporting that the funding will be used to further support the exponential growth that was triggered during the pandemic.
Founded in 2014 by Domas Labokas, Henrikas Urbonas, and Simona Andrijauskaitė, and also known as Cloud Mic, Interactio provides real-time multilingual translation services for remote and/or hybrid meetings. Needless to say, when the jet-setting world was suddenly grounded, the need for Interactio’s offer shot through the roof.
“Since the pandemic hit the world, the Directorate-General for Interpretation of the European Commission had to go online for meetings with interpretation. Thanks to its performance, user-friendliness, and straightforward hybrid integration into our a/v infrastructure, Interactio became a platform of choice,” comments Frederic Pirotte, Compliance Manager with the European Commission.