Grasp funding news -Stockholm-based Grasp Secures €1.7 Million in Funding

It employs generative AI and language models that are proprietary and produced in-house to automate laborious and sophisticated processes that are presently completed by management consultants and investment bankers. These services account for US$1.4 trillion in global spending, and as AI grows more capable of handling most tasks, the sector is predicted to see substantial transformation in the years to come.

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Since releasing its AI assistant as a SaaS product in December 2023, it has experienced a significant increase in the number of users. Currently, 25 businesses in 15 different countries—including the USA, Canada, the UK, and Sweden—use their technology.

Richard Karlsson, CEO of Grasp, said: “We are pleased to welcome Yanno Capital and Philian Invest to Grasp. Since we launched our AI platform in December, we have grown incredibly fast and have reached an ARR of over 3 million SEK. We are now ready to take the company into the next phase of expansion. Anna and Nicklas have experiences in scaling tech companies within the financial sector that are unmatched by many in the world, and we see them as the perfect partner on our journey.”

Anna Storåkers, founder of Yanno Capital, commented: “We are happy to collaborate with Grasp and support the company in its expansion. Their product valuably solves problems for a clear customer group on a global market. We are convinced that a clear focus is the key to building successful and competitive AI companies, and this is something that the team at Grasp has.”

About Grasp

Researchers' life are made easier by Grasp's artificial intelligence assistant, which automates research chores. They are developing the first domain-specific AI platform in the world to handle the intricate requirements of financial advising. They provide superhuman intelligence to any finance business by integrating highly domain-specific AI systems with reliable tools and data.