AI-powered speech and music recognition company SoundHound has closed a new $125 million loan facility, with what it says is, “$100 million fully-funded” at closing. The credit agreement also allows SoundHound AI to potentially tap into additional capital of up to $25 million. That announcement arrived less than two weeks after the company was reported to have axed nearly half of its staff (200 people).
Source: Voice AI firm SoundHound secures $100m in strategic financing