The Applied AI Company Raises $42 Million To Automate Mission-Critical Business Processes
The Applied AI Company, a London-based artificial intelligence start-up, has announced a $42 million funding round to further its expansion in the US and Europe
Created on November 25|Last edited on November 25
Comment
As the global economy braces for continued turbulence and companies scramble to secure vital funding, it is encouraging to see continued investment in the AI space. The Applied AI Company (AAICO) is one such success story, and this week they announced a $42 million raise, from a range of leading venture capital firms and eminent family offices.
What Does The Applied AI Company Do?
AAICO develops targeted machine learning-driven products that automate mission-critical business processes involving manual or repetitive work. Their technology is primarily used in the pharmaceutical, healthcare, and government sectors, and its products aim to reduce human error while upgrading process efficiency.
Who’s Funding the Applied AI Company and Where’s the Money Going?
Despite challenging global market conditions and a tightening funding environment, AAICO has secured this round from Plug and Play Investment Group, Abu Dhabi-based G42, and a number of family offices in Europe and MENA.
AAICO has announced plans to use this investment to further its growth in the United Kingdom, Europe, and the US.
On the raise, Arya Bolurfrushan, AAICO CEO and Founder said, "We are humbled by the support of our investors in current market conditions. We take this responsibility seriously and are clear-eyed that a capital raise is not an indicator of success."
Find out more
Add a comment
Tags: ML News
Iterate on AI agents and models faster. Try Weights & Biases today.