Wayra Invests in AI Startup Perplexity, Expanding Telefónica’s AI Capabilities

Wayra Invests in AI Startup Perplexity, Expanding Telefónica’s AI Capabilities

(IN BRIEF) Wayra, Telefónica’s venture capital arm, has invested in U.S.-based AI startup Perplexity, which has developed an AI-powered answer engine that delivers real-time, contextual answers to user queries. Alongside the investment, Telefónica signed a global commercial agreement to offer Perplexity’s services to its customers in Spain, Brazil, and the UK, and launched an interactive app within the Movistar Plus+ platform. The partnership highlights Telefónica’s commitment to integrating cutting-edge AI technologies into its offerings, with more details to be shared at Telefónica Innovation Day on October 17, 2024.

(PRESS RELEASE) MADRID, 15-Oct-2024 — /EuropaWire/ — Wayra, the venture capital arm of Telefónica, has announced its investment in Perplexity, a U.S.-based startup that has developed an advanced artificial intelligence (AI)-powered answer engine. Perplexity’s innovative platform transforms how users find information by delivering precise, contextual answers in real time, using natural language processing instead of traditional search engines that return lists of links. With a conversational interface and personalized results, the platform provides answers from carefully selected sources, improving accuracy and relevance.

Wayra’s investment in Perplexity aligns with its strategy of backing high-growth companies with a global presence in cutting-edge technology sectors like AI. Perplexity’s investors include major players such as Nvidia, Jeff Bezos, Bessemer Venture Partners, and NEA. With this investment, Wayra joins a distinguished group of backers supporting Perplexity’s continued expansion.

In addition to this financial investment, Telefónica has signed a global commercial agreement with Perplexity, offering exclusive benefits to customers in key markets like Spain, Brazil, and the UK. As part of this collaboration, Telefónica has also launched a live application within the Movistar Plus+ catalogue, allowing users to interact with Perplexity via their television. Using the Movistar Plus+ Voice Remote, customers can ask questions and receive AI-generated answers displayed in real time.

Chema Alonso, Telefónica’s Chief Digital Officer, emphasized that this investment is part of Wayra’s broader strategy to integrate emerging technologies such as AI into Telefónica’s offerings: “We are committed to bringing cutting-edge innovations like Perplexity’s answer engine to our customers, enhancing their experience while reinforcing our leadership in digital transformation.”

Perplexity’s co-founder and CEO, Aravind Srinivas, expressed excitement about the partnership, highlighting that it validates their AI-driven approach and opens up new opportunities for global expansion. The partnership with Telefónica will help push the boundaries of AI-powered information discovery, creating transformative experiences for users worldwide.

Further details about the investment and partnership will be revealed at Telefónica Innovation Day, scheduled for October 17, 2024, where the company will showcase its latest technological innovations and initiatives.

Telefónica Innovation Day: October 17th
Chema Alonso will provide more details about this strategic investment during Innovation Day 2024, an event that will take place on October 17 at Distrito Telefónica, the company’s headquarters in Madrid.

Under the slogan “(Un)expected connections”, the event will bring together and showcase the latest technologies and innovations developed by the company around initiatives such as Telefónica Open Gateway, the digital home, the offer of products and commercial services under the TU brand, as well as the keys to its open innovation strategy. The event, which can also be followed via streaming, will feature a demo area where you can see and touch the latest proposals from Telefónica Innovación Digital, as well as a programme of presentations by some of the company’s key executives.

Media Contact:

Dirección de Comunicación Corporativa
prensatelefonica@telefonica.com

SOURCE: Telefónica, S.A.