Lucida AI has secured a $7 million seed round led by Velocity Capital, bringing its total funding to $8.25 million since launching in 2024.
In just 15 months, the London-headquartered, Istanbul-founded speech AI platform has logged 2.2 billion minutes of spoken interaction from 3 million users, showing higher retention than text-based competitors.
Investors highlight Lucida’s seven-figure annual recurring revenue as proof that the company has moved past being just an ‘AI wrapper’ and now has a strong, revenue-generating product.
Duolingo, valued at $6.15 billion and known for its gamified approach, leads the language-learning market. But Lucida AI, a London-headquartered speech-to-speech coaching platform, believes the industry has been solving the wrong problem.
The company, founded in Istanbul in 2024 by Mustafa Girgin and Mustafa Sait Demirci, offers a mobile app for consumers and a secure enterprise product with on-premises hosting and end-to-end encryption.
