[Funding alert] Amsterdam-based Send AI Raises €2.2Million in a Pre-Seed Round Funding

Saturday 27, 2024 | By Startup Rise EU

Amsterdam-based Send AI raises €2.2million in a pre-seed round funding. The Dutch venture capital firm Keen Venture Partners and Google's AI fund, Gradient Ventures, spearheaded this round. Angel investors included both past and present executives from UiPath, MongoDB, and Google Deepmind.

Amsterdam-based Send AI raises €2.2million in a pre-seed round funding. The Dutch venture capital firm Keen Venture Partners and Google's AI fund, Gradient Ventures, spearheaded this round. Angel investors included both past and present executives from UiPath, MongoDB, and Google Deepmind.

Founded in 2021 under the name Autopilot by Thom Trentelman (CEO) and Philip Weijschede (COO), the startup enables businesses to precisely extract important information from papers and read them automatically.

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They concentrate especially on difficult materials, such as long PDFs, poorly scanned papers, and documentation that has been photographed.

Thom Trentelman, co-founder and CEO: “Nowadays, people prefer to transfer a document by taking a photo. Due to varying photo quality, traditional document processing software gets stuck more frequently. It also happens that multiple receipts are in one frame. Upright, upside down, different angles – people are very creative. In such cases, data entry works are prompted to copy paste the information from the document by hand, which is a time-consuming and error-prone task.”

Sensitive client information is kept on the company's own servers, where a combination of smaller open-source models is preferred for use. Health insurers were the first to begin processing huge numbers of claim paperwork, even though the platform is already being used in a variety of businesses.

Read also - Berlin-based Packmatic Secures €15 Million in Series A Round Funding

It was decided to travel across the seas to Silicon Valley in search of an investor in order to meet the increasing demand. They met Gradient Ventures, a San Francisco-based company, here first, and they decided to lead the round.

About Send AI

Send AI, It is not always necessary to force users to transmit data in standardised formats or according to strict API protocols. As a result, the information exchange loses its subtleties and distinctive qualities, which are essential for offering customised services.

Read also - London-based Metris Energy Secures €2.3 Million in Pre-Seed Funding

Their goal is to enable businesses to handle unstructured data in settings where mission criticality is required. In essence, they offer the framework necessary for processing and verifying human communication using—well, obviously—artificial intelligence. Reduce the cost of manual handling significantly while increasing accuracy and speed.

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