Iris.ai, an Oslo, Norway-based provider of an AI engine for scientific text understanding, raised €7.64 million in funding.
Investors
The round was led by Silverline Capital and supported by the European Innovation Council (EIC) Accelerator Fund.
Silverline Capital provides mezzanine and equity financing solutions to mid-market businesses in Bulgaria. It was founded in 2019 and is based in Sofia, Bulgaria.
Iris.ai Use of Funds
The company will use the funds to propel its growth and innovation in the AI-assisted scientific research landscape. With the funding, Iris.ai plans to enhance its flagship offering, RSpace, further augmenting its factual capabilities.
About Iris.ai
Iris.ai specializes in AI-driven scientific text understanding. Their platform offers a solution to the challenge of managing the vast amount of scientific literature being published. By combining proprietary scientific language models with generative AI technology, Iris.ai enables users to navigate, categorize, summarize, and systematize data and facts from academic papers, patents, and other technical documentation accurately. The company's flagship offering is the RSpace tool suite, which provides researchers in various fields such as material science, food science, medical, biotech, agriculture, chemistry, automotive, and cosmetics with actionable insights derived from the latest scientific knowledge.
Funding Details
Company: Iris AI AS
Raised: €7.64M
Round: Unknown
Funding Month: May 2024
Lead Investors: Silverline Capital
Additional Investors: European Innovation Council (EIC) Accelerator Fund
Company Website: https://iris.ai/
Software Category: AI Science Assistant
Source: https://www.eu-startups.com/2024/05/oslo-based-iris-ai-raises-e7-64-million-to-use-ai-language-models-to-accelerate-scientific-research-processing/