Echo Labs, a Chicago-based startup, has secured $7.4 million in pre-seed funding, the highest ever in the city’s startup history, according to the company. The funding comes after Echo Labs’ initial $2 million pre-seed round. Using artificial intelligence, Echo Labs aims to democratize media accessibility and plans to use the funding to launch an educational pilot program for higher education institutions.
The company’s pilot program, set to begin on January 12, will offer selected institutions the opportunity to experience Echo Labs’ AI-powered transcription technology for one month. The program aims to enhance content reach and make content more universally accessible through transcription and audio description services.
Echo Labs offers transcription services for lectures, discussions and other educational media and boasts a 99 percent accuracy rate. The platform produces transcriptions quickly and can immediately integrate with learning and video management systems. Echo Labs wants to make accessibility the default in every educational institution and is actively inviting universities to join its pilot program.
