Zurich – Interprefy has been granted a Swiss government-backed loan of 1.15 million Swiss francs from the Technology Fund and secured an additional 1.7 million francs from investors. The startup from the Greater Zurich Area offers a cloud platform for simultaneous interpreting.
Interprefy has developed a cloud platform for simultaneous interpreting. This means interpreters no longer need to attend conferences, which reduces not only administrative hours and expense but also cuts carbon emissions.
Now, the Technology Fund of the Federal Office for the Environment (FOEN) has granted a Swiss government-backed loan of 1.15 million francs to Interprefy. The Fund offers such loan guarantees to Swiss companies whose novel products contribute to a sustainable reduction in greenhouse gas emissions. This enables these companies to access loan funding at favorable terms.
The startup also raised a further 1.725 million francs from multiple Swiss-based investors in a new funding round. According to a press release, this investment brings Interprefy’s post-money valuation to 21 million.
Interprefy intends to use this capital to drive further international expansion. So far this year, Interprefy has appointed four new sales representatives in the Asia and the Pacific region and a further two in Europe. The company also plans to invest further in marketing and new product innovation.