Finnish startup Inven secures €1.5M to free up M&A professionals using AI tech
31 March, 2023, 12:26
Finland-baseb startup Inven has secured €1.5 million in seed funding to shake up M&A processes using AI tech that helps cut time on mundane tasks. Lifeline Ventures is the lead investor, EU-Startups report.
- Founded in 2022, Inven is a financial data platform that harnesses AI to help M&A professionals find acquisition targets. The platform allows to greatly save time, as well as improve the results precision by only searching with a single example company.
- The company was built by three young entrepreneurs, Ekku Jokinen, Niilo Pirttijärvi, and Tommi Kupiainen. All of them experienced first-hand the problems with these time-consuming analysis tasks.
“We’re on a mission to offer the most intelligent and intuitive tool to find and analyze companies. We’re excited about the impact our software can have on the M&A industry, and we’re grateful for the support of our investors and customers,”Tommi Kupiainen explains.
- Lifeline Ventures, a Helsinki-based VC firm, led the seed investment. The firm specializes in early-stage startups in healthcare, gaming, web based, and general high technology sectors. Its ticket size ranges between €0.5 million and €1 million. In February 2023, Lifeline Ventures led the €22 million round for TILT Biotherapeutics.
“We’re excited to support Inven as they are realizing their vision of the financial industry’s future. Their unique approach and ambitious team have positioned them well for success, and we are confident in their ability to make an impact,”Petteri Koponen, Founding Partner at Lifeline Ventures, comments.
- The fresh funding will allow Inven to build its team and take customer acquisition for their newly launched platform to the next level.