Picture this: You are about to step up to speak at a critical meeting, pitch to an influential client, or perhaps just have a conversation with your friends in a group. Now imagine your words stumbling, halted by a speech impediment. It is not merely frustrating; it is life-changing. Around 400 million people1 globally experience this reality daily. For many, traditional speech therapy has been the supposed remedy—but it's expensive, often ineffective, and frustratingly inaccessible.

At Malpani Ventures, we've always believed in backing ventures that harness technology to solve deeply personal, overlooked issues. When we encountered Iyaso and its founder, Viraj Kulkarni, we sensed an opportunity to drive a genuine revolution in speech therapy.

The Problem: More than Just Words

Speech disorders like stuttering aren't just verbal hiccups; they affect the lives of people who suffer from them, from academic hurdles and professional setbacks to deeply personal social anxieties. Traditional speech therapy, despite noble intentions, has its shortcomings:

• Cost Barrier: Paying Rs 1000+ in India or upwards of $100 per session in the US is a tall order for most pockets.
• Inconsistent Adherence: Motivation wanes quickly, with dropout rates soaring up to 66%2.
• Transfer Gap: Techniques learned in controlled environments rarely translate smoothly to real-world interactions.

And so, the question beckoned—how can we radically reinvent speech therapy?

Enter Iyaso's Eloquent: AI-Powered Liberation

Iyaso's flagship app, Eloquent, offers a compelling answer.

Launched in June 2024, the app has quickly attracted over 20,000 users, validating its demand vividly.

Eloquent’s goal is to act as your personal friend/ guide to overcome stuttering. Imagine having an always-available, non-judgmental AI coach right in your pocket, ready with personalized practice sessions, real-world simulations, and insightful feedback. The app delivers scientifically validated therapy through gamified experiences, ensuring higher adherence and tangible skill improvement.

Why We're Betting on Viraj

Viraj isn’t just another passionate entrepreneur—he's walked this path personally. Having battled severe stuttering himself, Viraj intimately understands the problem he's addressing. Coupled with an impressive background (Computer Science from UC Berkeley, Chief Data Scientist at DeepTek), Viraj previously navigated the intricacies of healthcare AI to secure US FDA clearances.

His blend of deep empathy, technical acumen, and regulatory expertise positions him uniquely to succeed. His journey is not just inspiring—it's instructive

In an earlier edition, I dissected Duolingo’s journey to becoming the undisputed leader in language learning apps.

Key takeaways: Prioritizing efficacy, engagement, and organic growth before aggressive monetization. Iyaso embodies these lessons beautifully.

Monetization isn't Iyaso's immediate priority – The team is focusing first on building an exceptional product that users genuinely love. Viraj is committed to ensuring organic growth and strong user retention. Eloquent's potential for capturing a dedicated user base mirrors Duolingo’s trajectory—anchored in creating real, measurable value first.

The Market: Vast and Underserved

Globally, speech disorders represent a significant market opportunity—we conservatively estimate a $200 million market for stuttering alone, with broader digital speech therapy markets worth considerably more. Iyaso aims not just to tap but expand this market substantially, leveraging AI-first methodologies and scalable partnerships.

Our Conviction & Investment

At Malpani Ventures, while we do believe there is merit in market sizing and financial forecasts, it is ultimately the founder who makes or breaks an opportunity. We want to invest in visionary founders who blend personal passion with professional precision. Iyaso fits this ethos perfectly.

We’re delighted to lead Iyaso’s pre-seed round($500k), believing deeply in its promise. We want to work with the best minds to build a world-class product. If you would like to contribute, please write to me!