[Funding alert] Düsseldorf-based Kauz Secures €2.3 Million in Funding

Thursday 8, 2024 | By Startup Rise EU

Düsseldorf-based Kauz secures €2.3 million in funding from the investor network Companisto to support the company's generative AI platform expansion.

Düsseldorf-based Kauz secures €2.3 million in funding from the investor network Companisto to support the company's generative AI platform expansion.

Kauz, a prominent player in the region for chatbot applications, integrates state-of-the-art big language models with its in-house NLU (Natural Language Understanding) technology to help with the controlled implementation of AI in commercial settings.

Read also - Saleor Secures $8 Million in Seed Extension Round Funding

In March 2023, Kauz joined the market as one of the first chatbot suppliers in the DACH area with a ChatGPT integration. Concurrently, there was an escalation of the expansion into a self-service AI assistant platform, which will be facilitated by more funding.

Consciously, the choice was made to depend on Companisto's network of private investors in order to sustain the successful professional approach to technological development on our own in the years to come.

Read also - Harjumaa-based Martech company Analytical Alley Raises €700k in Funding

Dr. Thomas Rüdel, founder and CEO of Kauz said, "Within a few weeks, €2.3 million were pledged through the Angel Club, existing investors including a founder’s convertible bond, and micro-investments from private investors. The rapid and straightforward execution of the financing round confirms the already tangible potential of our technology and market approach,”.

The funds will be used to develop Kauz aiStudio even more, allowing businesses of various kinds to utilize chatbots on their websites and AI helpers for internal purposes. Making ensuring AI solutions are controllable is Kauz's goal.

The advent of so-called "private models," which Kauz uses to promote the trend toward open-source models that are adaptable for specific clients and can be installed on-premises if needed, also helps to achieve this goal.

Read also - Cosmic Aerospace Secures $4.5 Million in a Seed Round Funding

By 2023, there will be a significant shift in the market dynamics for AI-based solutions due to the availability of strong big language models. Kauz saw an instant benefit from the potential of this technology push in its product offers.

Even with a large, industry-specific knowledge base of its own, chatbot development still required a significant amount of manual labor. Integrating with huge language models made it immediately apparent where to go for a highly scalable, broadly applicable solution.

Read also - London-based docStribute Raises £820k in Pre-Series A Round Funding

About Kauz

Kauz GmbH creates chatbots that can comprehend natural language. An NLU (Natural Language Understanding) platform is available from Kauz Linguistic Technologies for the creation of chatbots that can automatically respond to employee and customer service and support inquiries.

Read also - Newcastle-based SQCDP £200,000 Secures in Funding

The NLU platform's deep language analyses provide natural conversation management and provide much greater rates of accurate responses than chatbots that only use machine learning.

Recommended Stories for You

story
News

German-based Octomind Secures $4.8 Million in Seed Funding

Startup Rise EU Tuesday 23, 2024

story
News

Dublin-based SynOx Therapeutics Secures $75Million in Series B Round Funding

Startup Rise EU Tuesday 23, 2024

story
News

Paris-based Zefir Secures €11Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Helsinki-based HappySignals Secures €12 Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Italian-based Lithium Lasers Secures €2 Million in Funding

Startup Rise EU Monday 22, 2024

story
News

[Funding alert] Munich-based Smart Reporting Secures €23 Million in Series C Round Funding

Startup Rise EU Monday 22, 2024