TEDCO invests $500K in College Park-based OmniSpeech

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The Maryland Technology Development Corp., or TEDCO, announced on Tuesday a $500,000 Pre-Seed Builder Fund investment in OmniSpeech. 

OmniSpeech, a technology company based in College Park, aims to improve speech-enabled applications and devices using artificial intelligence and machine learning. According to a release, its AI noise suppression technology is designed to remove background noise and boost voice clarity in consumer and enterprise headphones.

The Pre-Seed Builder Fund, operating under the TEDCO Social Impact Funds umbrella, seeks to invest in and support Maryland-based technology companies led by founders from disadvantaged backgrounds.

“We have made tremendous strides in improving the quality of hearing devices for consumer and enterprise applications,” OmniSpeech founder Carol Espy-Wilson said. 

“With this follow-on investment from TEDCO, we are excited to take our AI speech technology even further by joining the fight against one of the biggest AI threats – deepfake audio used to perpetuate consumer and enterprise fraud.”

The Social Impact Funds were created to support underrepresented entrepreneurs throughout the state, according to TEDCO, a venture capital company that provides funding, and resources for early-stage technology and life sciences companies in Maryland. 

AI Detect™, OmniSpeech’s newest technology, is a zero-shot deepfake detection tool expected to launch later this year through a Zoom integration. The technology feature is built on expertise in audio, AI and speech science.

“At TEDCO, we are excited to support the continued growth of our innovation ecosystem by offering opportunities like the Social Impact Funds that target SEDI (Socially and Economically Disadvantaged Individuals), allowing continued economic development across the state,” TEDCO executive Jean-Luc Park said. 

“OmniSpeech’s innovative technology has the potential to not only support Maryland’s growth and development, but to push innovative thinkers across borders to continue moving forward.”