Send AI has managed to attract the interest of Google’s AI fund to accelerate and expand the development of its AI models. In total, it raised 2.2 million euros. What exactly does the Amsterdam-based company have to offer?
The Dutch company Send AI has already managed to make a name for itself internationally. This is even though the company was only founded in 2021. The explosive growth of the AI field will certainly have spurred interest in Send AI. But there are also too many players in this field to all be internationally relevant.
Smarter technology for documents
Send AI focuses specifically on a technology that can filter important information from documents. Currently, documents can already be loaded with more AI technologies to write summaries, for example. However, Send AI’s technology is more specialized and can also work with low-quality scans, photos of documents and large PDF files.
Moreover, the Amsterdam-based company took a different approach to training the technology. For example, it uses different, smaller open-source models. Users, therefore, do not have to share the input into the model with AI models from big players. Instead, the incoming data remains in the hands of Send AI. Business users can further work with the technology to train their own AI models.
Boost from Google
Send AI decided to go abroad with its technology for an investment round. It was successful and raised a total of 2.2 million euros. One of the investors was Gradient Ventures, an investment fund that operates under Google and seeks opportunities with AI and ML start-ups. Furthermore, it managed to raise money from VC Keen Venture Partners, which is Dutch.
The company further informs that the money raised will be used to strengthen the team, accelerate development and expand into international markets.
Also read: Generative AI is shaking up businesses, but opinions are divided
2 days ago
