Funding

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

May 14, 2024 | By Startup Rise EU

Grasp, one of the first AI assistants in the world for management consultants and investment banks, has raised €1.7 million to support Yanno Capital and Philian Invest. Taken all, they have gained somewhat less than 13 percent of the shares. The money will be invested in Grasp to further its international expansion and quicken the development of its AI platform.

SUMMARY

  • Grasp, one of the first AI assistants in the world for management consultants and investment banks, has raised €1.7 million.
  • The money will be invested in Grasp to further its international expansion and quicken the development of its AI platform.

Grasp, one of the first AI assistants in the world for management consultants and investment banks, has raised €1.7 million to support Yanno Capital and Philian Invest. Taken all, they have gained somewhat less than 13 percent of the shares. The money will be invested in Grasp to further its international expansion and quicken the development of its AI platform.

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.

Read also - AimHi Earth funding news – Climate and Sustainability Training Provider AimHi Earth secures £1Million in Funding

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.”

RECOMMENDED FOR YOU

recomd
Denmark
[Funding alert] Copenhagen-based Virtuall Secures €829k in Pre-Seed Funding
Startup Rise EU
Nov 9, 2023
recomd
Netherland
[Funding alert] Amsterdam-based Cheflix Secures €1 Million in New Round of Funding
Startuprise
Oct 30, 2023
recomd
Recent Articles
Germany-based moveXM Acquired Feeddex BV and 5-Star Specialist BV
Startup Rise EU
Mar 30, 2024

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.

Recommended Stories for You

story
Funding

[Funding alert] Berlin-based Ecoligo Secures €11Million Funding

Startup Rise EU Feb 29, 2024

story
Funding

[Funding alert] Dutch Startup tibo energy Secures €3 Million in Seed Funding

Startup Rise EU Jan 11, 2024

story
Funding

Identity.vc funding news – Berlin-based Identity.vc Secures €50Million fund for LGBTQ+ Founders

Startup Rise EU May 28, 2024

story
Recent Articles

[Funding alert] Dutch-based Nuwa Pen Secures €1.5M in Fresh Round Funding

Startup Rise EU Jan 6, 2024

story
Funding

[Funding alert] Dutch Fintech Startup Levenue Secures €8 Million in Series A Round Funding Acquires Belgian Fintech Cake

Startup Rise EU Nov 15, 2023

story
Recent Articles

UK-based With Intelligence Acquired FolioMetrics

Startup Rise EU Nov 4, 2023