"AI-powered transcription and voice-generating platforms secure millions in funding"

Parrot, an AI-powered transcription platform that offers speech-to-text depositions for the legal and insurance industry, has raised $11 million in a Series A round led by Amplify Partners and XYZ Venture Capital. The company also unveiled a new feature that summarizes deposition in mere seconds for legal experts. Parrot plans to use the proceeds to ramp up investment in artificial intelligence for the legal and insurance domains and continue developing tools to address the industry’s challenges.