“LTIMindtree USA Inc., a wholly owned subsidiary of the Company has signed a definitive agreement on December 3, 2024 with Voicing. AI, Inc. (‘Voicing. AI’), an autonomous platform operations solution, to invest upto $6 million into convertible instruments to be issued by Voicing. AI,” the IT company informed the stock exchanges.
The investment will be made within seven days of the agreement and LTIMindtree USA Inc., would be entitled to acquire convertible instruments (which could convert to minority common stock) in Voicing. AI, subject to conditions as per definitive agreement, it added.
Founded in April this year, Voicing. AI is an autonomous platform operations solution that specialises in voice AI autonomous agents with presence in the US.
“Our investment with Voicing. AI aims to redefine how businesses interact with their customers through intelligent automation and AI,” said Debashis Chatterjee, CEO and managing director of LTIMindtree.
The sixth-largest Indian IT firm says it will help clients integrate Voicing. Al with their custom tools, structured and unstructured knowledge bases, CRM systems, and leading call management platforms and systems.
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“Voicing. AI is fundamentally disrupting the massive customer engagement market by powering new revenue growth, personalising customer connections and fostering a human dialogue between a business and its customers,” said Abhi Kumar, co-founder of Voicing. AI.In a recent interaction with ET, Chatterjee had said that the technology landscape has been changing very dramatically, especially with the AI coming into the foray and LTIMindtree is focusing on building its platform operations business.
“We have been investing in that for the last two years. But our advantage now is, as we get into platforms, we can do AI-first approach. We can cannibalise others’ revenues, because we have nothing to lose. So, you will probably hear some of these announcements hopefully in the next 2-3 weeks. We are also very aggressively focusing on areas where we can truly disrupt things which we have never done before,” Chatterjee said.
He added that clients of software service providers like LTIMindtree are not going to spend a lot of money thinking about large deals but are trying to do smaller size deals. Further, the competition for traditional IT companies is beyond tier-I and tier-II firms expanding to the global capability centres (GCCs), which insources technology services for its clients.
