Romanian deeptech Veridion receives $6M to deepen AI comprehension of business landscape
The Bucharest-based Veridion (formerly known as Soleadify) has announced a $6 million in a late seed round to further expansion and development of its AIs. The fresh round was co-led by LAUNCHub Ventures, OTB Ventures, Underline Ventures, and other existing investors, AIN.Capital was told.
- Founded in 2019, Veridion is a new-age data vendor that specializes in firmographic data. Veridion uses machine learning to comprehend the ever-expanding business landscape and offer the resulting data through APIs to enable making business decisions at scale.
- The startup has a database of over 60 data points on over 80 million company profiles. These data cover every aspect of a business from identification, locations, and classification to product offerings, ESG topics, and more.
“We believe that the next generation of business decision engines, regardless of industry or vertical, will require a completely new format of data. Predictive models will rely on AI more than human intuition, and will be capable of processing exponentially more data as their core resource. For this, the data needs to be fresh, granular, easy to work with, and integrate-able across a wide array of processes. This has been our focus from the beginning and with this round, we’ll be able to double down on our approach,”
Florin Tufan, founder and CEO of Veridion, comments.
- The funds were received from a group of investors: LAUNCHub Ventures, OTB Ventures, Underline Ventures, and existing investors Day One Capital and GapMinder Venture Partners.
- Recently, LAUNCHub joined a $2.8 million pre-seed round for Romania-founded startup Kubeark.
- In January 2023 the Warsaw-based VC fund OTB Ventures backed ClearSpace, the Swiss-based in-orbit services company.
- Bulgarian VC fund Eleven Ventures co-led a $2 million round for Nestor in 2022. To date, Veridion was advised on the financing round by Cytowski & Partners, a US-based law firm.
- Veridion plans to continue building its US footprint by opening a New York office in 2023, to grow the base of clients in the region, and further develop its AIs.