Funding

Mona AI funding news – Germany-based Mona AI Secures €2Million in Seed Funding

Nov 12, 2024 | By Kailee Rainse

Mona AI funding news - Germany-based Mona AI Secures €2Million in Seed Funding

Mona AI, a platform that uses artificial intelligence to automate recruitment, has raised €2M in seed funding led by Earlybird, a top European venture capital firm that has invested in companies like Sana and Keel.

SUMMARY

  • Mona AI, a platform that uses artificial intelligence to automate recruitment, has raised €2M in seed funding.
  • MONA AI is software that automates tasks in the human resources industry. It helps save time and resources by replacing slow, manual processes with artificial intelligence and fully automated systems.

The company, which started at Saarland University, plans to use the funding to expand into new European markets, such as France, the UK, the Netherlands, and the DACH region (Germany, Austria, Switzerland). They also aim to grow their team from 45 to 100 employees.

Mona AI has started preparing for its Series A funding round and has been named to the Lünendonk Top 25 list for its innovative AI solutions, showing how quickly the company is growing.

Helping Foreign Workers in Germany

It helps staffing agencies overcome the challenges of hiring non-German-speaking workers, especially in the logistics industry. Many foreign workers have faced issues like signing contracts without fully understanding the details or safety instructions.

Additionally, German law requires foreign workers to have a job before they can secure housing, which creates an extra barrier.

It’s solution provides better support for these workers by addressing language barriers and improving the onboarding process.

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In a conversation with TFN Felix Adam, founder of Mona AI, explained: “To address this challenge, Mona AI created a digital avatar named “Mona” that communicates with these foreign workers in their native languages. Mona provides information about work contracts, safety protocols, and other essential details, helping workers feel more secure and integrated into their new jobs.”

Mona AI plans to use its technology to automate the onboarding and integration process for staffing agencies, making it easier to hire and support non-German-speaking workers. This helps foreign workers find jobs and settle in Germany, addressing workforce challenges in Germany and the wider European Union.

Mona AI's Approach: Custom AI Models and Research

Instead of using existing AI models like ChatGPT, it has developed its own custom models to better meet its specific needs. This approach helps the company comply with the upcoming European AI Act, which could restrict some AI models. Mona AI also works with QuantPi to ensure it meets the strict rules of the EU AI Act.

Felix Adam, founder of Mona AI said, "The company is strategically located in Saarland and Munich, two major AI hubs in Germany. “By maintaining close ties with academic institutions and hiring local talent, we aim to stay at the cutting edge of AI research and development. Our technology is specifically designed to automate staffing agencies’ recruiting, onboarding, and sales processes, addressing their unique challenges such as high turnover rates, language barriers, and the need for rapid onboarding, ".

Investors’ perspective: ethical innovation

Earlybird Partner Dr Johannes Triebs added, “What’s truly outstanding about MONA AI is not just its rapid growth, but its unwavering focus on data security, compliance, and responsible AI development—areas that are often overlooked by fast-growing startups. In a market where many companies are scrambling just to keep up with growth, MONA AI has built a foundation that prioritises the ethical implications of AI while still delivering cutting-edge technology. This is exactly the kind of forward-thinking approach that will enable MONA AI to outpace competitors and become a leader in the HR automation space.”

Ralf Zastrau, Director of Entrepreneurship Saarland University and CEO of Triathlon, remarked, “MONA AI exemplifies the innovative spirit that we cultivate at Saarland University. Their commitment to responsible AI development and regulatory compliance, particularly in such a high-pressure industry, is a testament to their leadership and vision. It’s inspiring to see a startup not only pushing technological boundaries but also setting a high standard for ethical practices in AI. I look forward to seeing how MONA AI continues to impact the staffing industry and beyond.”

About MONA AI

MONA AI is software that automates tasks in the human resources industry. It helps save time and resources by replacing slow, manual processes with artificial intelligence and fully automated systems.

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