Dubai-based productivity startup Wrappup has secured its first round of institutional funding, in a $800,000 seed round that was led by BECO Capital, and included 500 Startups, Arzan VC, Dubai Silicon Oasis, Hala Fadel, Dubai Angel Investors, Odin Financial Advisors, and WOMENA.
Wrappup, a productivity app, aims to hack one of those niggling issues that workplaces continue to struggle with—how to do better meetings, with tangible results for all participants.
According to the startup, Wrappup uses intelligent voice recording to summarize meetings and make speech searchable.
During recording, users can flag important moments instead of scribbling down notes. These moments can be tagged as actions or decisions, and participants can add quick notes for easy reference, it said.
Multiple team members can participate in the recording sessions and partake in the experience.
In action, the app then compiles these moments into a playable minutes-of-meeting, creating a highlight reel of the discussion, shared with teams on the cloud. After the meeting, participants can play back their highlights, and quickly send out summaries. They can even search through the speech, as
They can even search through the speech, as Wrappup pinpoints “keywords” to the exact moments where those words were spoken.
More on how the app works:
According to Rami Salman, founder and CEO, “$37 billion are wasted annually on unproductive meetings in the US alone.
“Teams use minutes of a meeting to help productivity, but sharing minutes is a tedious and archaic job,” he said, claiming that Wrappup solves this by using smart voice recording, surfacing actionable business data through an easy-to-use app.
Ayush Chordia, co-founder, Wrappup, added that converting speech into useful data is at the core of each of Wrappup’s technical innovations.
“The speech search enables anyone to remember anything using a simple search interface. The speaker recognition algorithm uses machine learning to identify different speakers based on their voice patterns and segment meeting discussion. Wrappup then builds quantifiable metrics around the productivity of your speech.”
Amir Farha, co-founder and managing partner of BECO Capital, said that voice technology is an area that is experiencing rapid innovation with many use cases that can be disrupted by this development.
“Meeting management is one of them, and we believe that with time, voice-related technology applications will create many more efficiencies in the workplace.”
Beco Capital is a regional venture capital firm focused on technology investments in the Middle East and North Africa. This is the firm’s tenth investment in the region following the likes of Careem and PropertyFinder.
According to Salman, Wrappup has already been used in meeting rooms, classrooms, and even conferences; and the team is looking at deploying plugins for existing ecosystems such as Slack, Microsoft Office and Salesforce.
The app was founded by Salman and Chordia along with Rishav Jalan almost a year ago—the startup began by building working prototype in under 24 hours, winning AngelHack Dubai 2015.