Desia, a system of intelligence and AI productivity for investment professionals, has successfully raised a $3.3 million pre-seed funding round led by Dig Ventures.
Alongside Dig Ventures, various VCs participated in the round, “including 2100 Ventures, Vento by Exor Ventures, Octopus Ventures, Foreword Ventures, Plug & Play Ventures, and LaunchBay Capital.”
A group of angel investors joined the investment round, “including Niccolo Maisto, Founder of FaceIT, Mark Ransford, Senior Advisor at CVC Capital Partners, and Massimo della Ragione, former Partner at Goldman Sachs.”
The investment will fund the company’s development and growth, which ultimately “aims to transform the financial investment industry.”
Despite wider financial industries making significant technological leaps in recent times, investment professionals “are still required to sort through significant amounts of data and information manually.”
This process is both time-consuming and costly, and the data “is often unstructured, severely impacting productivity.”
Using AI, Desia extracts knowledge and data “about potential investments and puts it to work by performing analysis in an automated way, saving investment professionals significant time and resources.”
Users are already making use of Desia. The team has its eyes “set on the UK, the US and Continental Europe. ”
Ultimately, Desia intends to “transform the entire financial services landscape by harnessing the power of AI to make the best possible use of data and information in an automated manner.”
Raffaele Terrone, Co-Founder and CEO:
“I recall regularly sifting through data and information until the early hours during my time at Goldman Sachs in order to make fully informed decisions and strategies. With Desia the whole process would have been more efficient and successful. I wish it was available back then. This initial funding round is a major step towards developing the system for more structured and complex investment analyses.”