Estonian startup Co-one secures €640k in a seed round led by Maxis

Tallinn-based startup Co-one has secured €640,000 in a seed round of funding led by Maxis, reaching valuation of €4.2 million. TechOne Venture Capital, Lima Ventures, DOMiNO Ventures, and LEAP Investment also participated in the round to facilitate fast and accurate data annotations for AI teams.

• Founded in 2021 by Ataberk Arman Kayhan and Mert Menekşe, Co-one is a data annotation and enrichment platform. It offers data labelling services for AI companies by focusing on quickly, accurately, and securely labelling visual, video, and text data.

• The company has already made significant progress in the European AI market. Currently it serves in over 35 firms and have grown its monthly data labelling volume by 20 times.
• Turkey-based private equity fund Maxis led the seed round. Other Turkish funds TechOne Venture Capital, Lima Ventures, DOMiNO Ventures, and LEAP Investment also participated in the funding. The startup was also backed by business angels Emrah Gultekin, CEO of Chooch AI, and Siret Ünsal, an investment banker.
• Using the fresh funs, Co-one plans to further develop its products and expand its team.