Wayra, the corporate venture capital arm of Telefonica, said it has invested an undisclosed sum in Perplexity, a US-based startup that has developed an artificial intelligence (AI)-powered answer engine. Founded in 2022, Perplexity says it uses advanced AI to understand the intent of queries and provide real-time, accurate and contextual answers to all types of questions using natural language processing (NLP).

Wayra Invests in Perplexity

Wayra believes that Perplexity is a company with a differentiated proposition that will revolutionise the way users find information on the Internet by allowing users to ask questions directly and receive clear and concise answers from a curated set of relevant sources.

"With a conversational interface, Perplexity offers personalisation and a clear list of sources cited to improve the accuracy and relevance of the answers provided," Wayra said.

With this investment, Wayra joins Perplexity's other existing prestigious investors such as Nvidia, Databricks, Jeff Bezos, Stanley Druckenmiller, Bessemer Venture Partners, NEA, and IVP, among others.

Telefonica Signs Commercial Agreement

Telefonica also announced that it has signed a global commercial agreement with Perplexity to offer preferential benefits to its customers in Brazil, the UK, and Spain, while exploring opportunities to expand this partnership to other countries.

"The investment in Perplexity is part of one of the new keys of Wayra's investment strategy in leading technology markets such as the US, in high-growth companies with global presence and reach, and leaders in technologies such as AI," said Chema Alonso, Chief Digital Data of Telefonica. "With this commercial agreement, we are also reinforcing Telefonica's commitment to integrating cutting-edge technologiesthe company and offering transformative experiences like Perplexity's 'answer engine' to our customers."

Aravind Srinivas, Co-Founder and CEO of Perplexity says: "This investment from Wayra not only validates our AI-powered approach but also opens up exciting opportunities for global expansion. We look forward to continuing to partner with Telefonica to push the boundaries of what’s possible in AI-driven information discovery and to create transformative experiences for users worldwide."

Perplexity experience through Television

Telefonica has also launched what it claims to be the world's first Perplexity experience through television, allowing users to interact with the platform via the Movistar Plus+ Voice Remote. Customers can ask questions and receive AI-generated answers in real-time, displayed on screen and spoken aloud, the official release said.