Synthflow Raises $7.4M Seed Round
Berlin-based startup Synthflow has secured a $7.4 million seed round to develop its no-code platform for AI voice assistance tailored for small and medium-sized enterprises (SMEs). Founded in the spring of last year, Synthflow has now raised a total of $9.1 million, highlighting investor confidence in generative AI applications.
The company's CEO and co-founder, Hakob Astabatsyan, plans to invest the new funds into research and development to enhance product utility and expand their market reach. Synthflow is experiencing “double-digit” monthly growth rates and is close to reaching 1,000 customers since launching its browser-based tool in December 2023.
Targeting SMEs with No-Code AI Solutions
Synthflow aims to empower SMEs, including those on the smaller end of the spectrum, by offering a no-code interface for creating voice assistants. This approach allows non-technical users to automate repetitive tasks such as appointment scheduling and answering FAQs.
Astabatsyan believes that the return on investment for SMEs will be immediately apparent as AI can handle tasks more affordably and reliably, freeing human employees for other responsibilities. The platform's drag-and-drop interface enables business owners to design voice AIs that perform specific functions, making advanced AI technology accessible to a wider audience.
Expanding Language Support and Integrations
Initially focused on English-speaking markets, Synthflow has since introduced German and French language versions, currently in beta, to tap into European markets. The startup’s voice orchestration layer converts speech into text for the AI model to process, then converts the generated response back into speech for the caller.
Synthflow also plans to build integrations with third-party software to streamline post-call data entry tasks, such as updating CRM systems and scheduling appointments. The company aims to use AI not just for inbound calls but also to perform live actions like checking inventory during a call.
Future Prospects and Industry Impact
Synthflow’s vision includes developing more sophisticated capabilities, such as enabling voice AIs to collaborate by handing off calls to other specialized AIs. This could significantly increase productivity for SMEs by efficiently managing customer inquiries and redirecting complex issues to human agents.
Astabatsyan emphasizes that the goal is to enhance productivity rather than replace human jobs. As Synthflow continues to innovate, it raises important questions about how to channel increased productivity and capacity in SMEs. With the backing of investors including Singular, Atlantic Labs, and Krisp AI founders, Synthflow is well-positioned to transform voice assistance for SMEs and drive growth in the AI industry.
