Kvasir, a UK-based AI knowledge management software company, has successfully secured more than £1.3 million through its equity crowdfunding campaign on Crowdcube. The funding round, which originally sought to raise £1 million, has already attracted 655 Crowdcube investors. Krvasir is currently offering 42.33% in equity at a £1,794,000 pre-money valuation.
Founded in 2017 at Cambridge University, Kvasir claims its solutions proactively bring information together from multiple unstructured sources to increase business efficiency, decrease costs, and reduce risk.
“Kvasir’s core platform uses the latest advanced Machine Learning, NLP, and Semantic technology to solve the problems of working with siloed, disparate, and unstructured data.”
Kvasir further explained that its AI technology analyses the document continuously as they write their response, searching through complex public and private information and provides relevant information in real-time. This helps the engineer complete their work more efficiently, more accurately and with less risk.
“Based on the company’s market research, there are no known solutions available to business today that can do this.”
Funds from the Crowdcube round will be used to accelerate product development and sales. Cambridge Enterprise is investing further £500,000 through this investment round, which is set to close at the beginning of January 2021.
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