Telefónica’s corporate venture capital arm, Wayra, has announced its investment in AI answer engine Perplexity.
Perplexity’s AI-driven platform aims to revolutionise internet information searches by providing real-time, accurate, and contextual answers to queries using natural language processing. Unlike traditional search engines that return a list of links, Perplexity understands the intent behind questions and delivers clear, concise answers from a curated set of relevant sources.
The investment sees Wayra join an impressive roster of existing backers, including tech giants Nvidia and Databricks, as well as high-profile individuals such as Amazon founder Jeff Bezos and billionaire investor Stanley Druckenmiller. Venture capital firms Bessemer Venture Partners, NEA, and IVP have also placed their bets on Perplexity’s growth and expansion.
In addition to the investment, Telefónica has inked a global commercial agreement with Perplexity. This partnership will offer preferential benefits to Telefónica customers in Brazil, the UK, and Spain, with plans to explore expansion into other markets.
Telefónica has launched a Perplexity experience through television. The company has developed an exclusive living app within the Movistar Plus+ catalogue, allowing customers with compatible sets to interact with Perplexity directly through their TV. Users can ask questions on any topic using the Movistar Plus+ Voice Remote by pressing the Aura button, receiving AI-generated text answers in real-time, displayed on-screen and spoken aloud.
Chema Alonso, Chief Digital Data Officer at Telefónica, said: “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.
“With this commercial agreement, we are also reinforcing Telefónica’s commitment to integrating cutting-edge technologies into the company and offering transformative experiences like Perplexity’s answer engine to our customers”.
Perplexity’s AI-powered approach sets it apart from traditional search engines by offering a conversational interface and personalised results. The platform also provides a clear list of cited sources, enhancing the accuracy and relevance of its answers.
Aravind Srinivas, Co-Founder and CEO of Perplexity, commented: “This investment from Wayra not only validates our AI-powered approach but also opens up exciting opportunities for global expansion.”
By bringing Perplexity’s capabilities to television screens, Telefónica is delivering new ways for users to access information and interact with AI in their homes.
“We look forward to continuing to partner with Telefónica to push the boundaries of what’s possible in AI-driven information discovery and to create transformative experiences for users worldwide,” concludes Srinivas.
The investment from Telefónica comes as research suggests the telecoms industry is leading in generative AI adoption.
See also: King’s Business School: How AI is transforming problem-solving
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