Remote interpreting platform secures CHF1.5m investment from Swiss technology fund

Remote interpreting platform for the events business, Interprefy, has secured an additional CHF1.8m (US$1.83m) in funding  and the company expects the events industry to grow massively despite the impact of the coronavirus as organisers move meetings online. Swiss-based Technologiefonds has injected the latest investment, which comes on top of the existing CHF1.2m Interprefy had previously received. Interprefy now has over CHF 2.3, to invest in its business growth. The Technologiefonds supports Swiss technology companies whose products and solutions contribute to actively lowering greenhouse gas emissions through loan guarantees. It manages CHF500m of funds and can offer loan guarantees of up to CHF3m per business. The latest loan guarantee will allow Interprefy to increase product development and recruit more specialist expertise. Kim Ludvigsen, founder and CEO at Interprefy said: “We are very happy to have secured this loan guarantee from the Technologiefonds to grow our business during a difficult period. In the last few months we have seen most of our onsite events vanish, but at the same time a huge demand has arisen as clients ask us to take those and other conferences completely online. “We are proud in difficult times to continue supporting international organisations, such as the United Nations, providing them with the ability to host important meetings and conferences remotely. Interestingly, some of our new clients are less interested in simultaneous interpretation and are simply interested in a reliable online platform and professional support to host events or conferences.” Ludvigsen continues: “In this time of great challenge, we also need to be mindful of the interpreters and Language Service Providers that have lost almost all of their assignments overnight as a result of many countries restricting movement and working conditions to slow the spread of coronavirus. “We are fighting hard to take their events online and bring them back in business. Further good news to come out of this is that conference organisers have realised that not only interpreters, but also speakers and delegates can participate in events remotely. Due to the lower cost and increased flexibility, this will only mean more demand for simultaneous interpretation in the future.” Many interpreters are also pleased to avoid the health risk from transferring to the venue and from sitting in small constrained booths. Interprefy is helping keep these events going by providing its platform for businesses impacted by the coronavirus. It enables interpreters to deliver their services without needing to be on-site. Event and meeting participants simply listen to the language of their choice through their smart devices. As the German-Italian AIIC interpreter, Monika Eingrieber, explains: “On a Friday, a client of mine wanted to cancel an important event at very short notice due to Covid-19. Just a few days after I contacted Interprefy, the event was able to take place as planned with speakers, interpreters and participants all being connected remotely on Interprefy’s platform…The event, including interpreting, became a great success.”