Artificial Intelligence (AI) is revolutionising industries across the globe, and Europe’s startup ecosystem is no exception. In this article, we will explore the realm of AI and introduce 20 highly promising startups from Europe that are harnessing its power. These startups represent a diverse range of industries and applications, leveraging AI to solve complex challenges and shape the future. From healthcare to finance, logistics to sustainability, these companies are driving transformative changes and propelling Europe to the forefront of AI innovation.
Throughout the article, we will explore each startup’s unique value proposition, their impact in their respective industries, and their remarkable achievements. These startups have attracted significant funding and garnered attention from investors, industry leaders, and technology enthusiasts. With cutting-edge technologies and visionary entrepreneurs, they are pushing the boundaries of what’s possible and creating new opportunities for growth. Let’s dive into it!
Greyparrot: Founded in 2019 and headquartered in London, Greyparrot has quickly become a trusted solution in the waste management market. This cutting-edge AI waste analytics platform is at the forefront of driving the circular economy by enhancing transparency and automation in waste management. Its mission is to unlock the financial value of waste by digitising the waste management industry and accelerating global recycling targets. Remarkably, Greyparrot has successfully raised over €16 million, demonstrating its strong market presence and investor confidence.
Yokoy (Expense Robot): Zurich-based, Expense Robot by Yokoy, harnesses the power of artificial intelligence to streamline and automate expense and credit card processes for companies. With just a few clicks, employees can capture receipts, initiate accurate bookings, and facilitate seamless reimbursements. Expense Robot’s AI-driven approach optimises processes for employees, managers, and finance teams, continuously learning from every expense to save time and provide comprehensive spending insights. Committed to innovation and efficiency, Yokoy’s Expense Robot is revolutionising the way companies manage expenses, enhancing productivity, accuracy, and financial oversight in the process. With a strong founding in 2019 Yokoy has secured a total funding above €1.5 million.
Scissero: Founded in 2018 and based in London, Scissero offers a comprehensive legal platform that revolutionises contract management using artificial intelligence. With its advanced capabilities, the platform enables the drafting, marking, analysis, and review of contracts by human lawyers. By combining deep domain knowledge with machine learning, Scissero’s AI platform effortlessly handles complex legal agreements while automating routine tasks. Its features include contract markups and negotiations, analytics, authoring, and more. Since its inception, Scissero has been committed to enhancing the efficiency and effectiveness of legal processes.
TWAICE: Munich-based, TWAICE empowers enterprises across various industries with its predictive battery analytics software based on digital twins. By leveraging artificial intelligence, TWAICE enables customers to develop and utilise battery systems more efficiently, sustainably, and reliably. The innovative software provides precise information on the current state of battery systems, predicting further aging and considering various factors that impact battery lifespan and performance. TWAICE’s technology facilitates real-time 3D data processing, enabling systems to perceive, understand, and interact with their surroundings. With its dedication to innovation, TWAICE is leading the way in optimising battery usage and driving sustainable advancements. Founded in 2018 this thriving startup has raised over €69 million.
DRUID Ai: Based in Bucharest, Romania, DRUID Ai specialises in intelligent chatbots that bring natural conversation to the enterprise world. Their AI-powered chatbot enables employees, customers, and partners to interact with businesses and enterprise systems in the most intuitive, efficient, and human-like manner. By leveraging modern technologies and design principles, DRUID’s chatbot reduces non-productive time spent on data operations, improves data quality, and ultimately lowers costs while achieving the same output. With a focus on enhancing productivity and user experience, DRUID Ai is transforming digital communication in the enterprise space. Founded in 2018 they have raised over €20 million.
Akur8: Founded in 2018 and headquartered in Paris, France, Akur8 offers an AI-powered technology solution that revolutionises the risk modelling process for insurance companies. By combining machine learning with actuarial expertise, Akur8 enables insurance companies to perform risk modelings 10 times faster, completing the process in hours instead of months. Their integrated and collaborative solution encompasses all steps of the pricing process, from dataset preparation to commercial pricing optimisation and execution. Akur8’s goal is to revolutionise insurance pricing by providing accurate and efficient risk modelings, enabling insurance companies to make data-driven decisions and enhance their pricing strategies. With substantial funding of approximately €10.2 million, Akur8 is driving innovation in the insurance industry.
OroraTech: Founded in 2018 and headquartered in Munich, Germany, OroraTech is an AI-powered startup that specialises in global real-time information services. Their primary focus is on early detection and monitoring of wildfires, providing users with timely information about hotspots and areas at risk of wildfires. By leveraging data from multiple satellite sources and employing advanced wildfire algorithms, OroraTech offers a comprehensive solution to protect forests and assets. Their all-in-one service collects reliable data from satellites, evaluates it onboard with the assistance of AI, and forwards detected events in real time. With a total funding of approximately €1.6 million, OroraTech is dedicated to leveraging AI and satellite technology to combat the devastating impact of wildfires.
Libeo: Founded in 2019 and based in Paris, France, Libeo offers a cutting-edge platform that revolutionises the way companies collect, manage, and pay supplier invoices. By eliminating the manual tasks of invoice entry, responding to reminder emails, and dealing with late payment fees, Libeo streamlines the payment process and enhances connectivity with business partners. Powered by AI, their platform provides features like automated invoice entry, one-click payments, personalised approval workflows, and on-the-go notifications. With a total funding of approximately €6 million, Libeo is reshaping the landscape of invoice management and payment systems, improving efficiency and reducing administrative burdens for businesses.
Erudit: Madrid-based, Erudit offers an AI-based Software-as-a-Service (SaaS) solution that enables real-time tracking of employee productivity, mental health, and engagement without the need for surveys. By taking HR analytics to the next level, Erudit provides users with actionable insights presented through graphs and trends. The startup emphasises the protection of information under the General Data Protection Regulation (GDPR) and ensures that there is no human interaction with the generated employee data, with users only receiving automatically generated reports. Founded in 201, with a total funding of approximately €974,000, Erudit is transforming how organisations monitor and improve employee well-being and productivity using AI-driven analytics.
LabTwin: Founded in 2018 and based in Berlin, Germany, LabTwin is the world’s first voice and AI-powered digital lab assistant. This innovative startup employs voice recognition and machine learning technology to simplify data capture, structure valuable information, and provide real-time suggestions to scientists. LabTwin’s smart assistant automatically syncs lab notes, protocol updates, reminders, and order lists between mobile and web apps, enhancing efficiency and reproducibility in research. The platform is utilised by hundreds of scientists in leading biopharma companies and academic institutions worldwide, enabling faster access to information, streamlined data capture, and more informed decision-making. While the total funding for LabTwin is not available, their cutting-edge solution is revolutionising laboratory workflows.
Posos: Founded in 2018 and headquartered in Amiens, France, Posos is an AI-powered startup specialising in providing trusted medication-related information to healthcare professionals and patients. Leveraging medical Natural Language Processing (NLP), Posos facilitates access to medical knowledge, empowering healthcare professionals to make informed decisions about the most appropriate treatments for their patients. Through a structured and easily searchable drug and medication information search engine, healthcare professionals can pose questions and receive instant and relevant information. With a total funding of approximately €2 million, Posos is dedicated to improving access to medical knowledge and enhancing decision-making in the healthcare industry using AI technology.
TechWolf: Founded in 2018 and based in Ghent, Belgium, TechWolf utilises AI to connect people, jobs, and education based on skills. Their solution is designed to assist large enterprises in proactively managing their current and future skill requirements by continuously mapping their workforce and providing actionable insights. Through AI-powered technology, users can conduct data-driven strategic workforce planning by integrating with existing HR software and leveraging employee data to create accurate skill passports. With a total funding of approximately €1 million, TechWolf aims to empower organisations with AI-driven workforce management solutions.
Vara: Established in 2018 and headquartered in Berlin, Germany, Vara has developed an AI-powered breast cancer screening platform for radiologists. The platform includes a work list, viewer, and reporting software that utilises machine learning to aid radiologists in reading and reporting screening exams more effectively. Vara’s solution detects normal mammograms, flags them in the work list, and generates pre-written reports for human experts to double-check. By automating repetitive and normal cases, Vara allows radiologists to focus on complex and suspicious cases, reducing their burden and improving overall performance. With a total funding of approximately €6 million, Vara is dedicated to enhancing breast cancer screening through AI technology.
Lang.ai: Based in Madrid, Spain, Lang.ai is a platform that assists companies in real-time customer service support. The platform helps prioritise, respond to, and set up internal notes for customer service agents, allowing them to focus on their core tasks while Lang.ai handles repetitive tasks such as chat bots, calls, and emails. The platform seamlessly integrates with existing systems, requiring no coding or AI expertise for setup. Lang.ai offers a native integration with Zendesk for customer service users, enabling automatic ticket and call tagging. With notable clients like Vodafone and OCBC Bank, Lang.ai aims to enhance customer service efficiency and effectiveness. Founded in 2018 they have successfully raised over €11 million.
Outsight: Founded in 2019 and headquartered in Paris, France, Outsight is the visionary startup behind the development of a groundbreaking technology called the 3D Semantic Camera. This advanced sensor combines machine learning, software, and hardware to provide full situation awareness to smart machines. By leveraging comprehensive real-time 3D data processing, the 3D Semantic Camera enables systems to identify remote materials and interact with their surroundings in real time. With an international team operating from Paris, Helsinki, and San Francisco, Outsight is empowering cars, drones, and robots with superhuman capabilities. Their technology contributes to a smarter and safer world by enhancing perception and understanding of the environment. With substantial funding of approximately €18 million, Outsight is at the forefront of revolutionising how machines interact with the world around them.
Aifora: Aifora, founded in 2018 and headquartered in Düsseldorf, Germany, is driving the concept of the “data sharing economy.” The innovative startup aims to make data accessible and actionable for brands and retailers, empowering them to make informed business decisions, enhance consumer experiences, improve profitability, and accelerate growth. Aifora’s big data platform leverages deep learning algorithms to develop more accurate and targeted pricing, promotions, and merchandise flow strategies that influence customer behaviour. By employing intelligent automation, aifora’s technology solution eliminates repetitive and transactional activities, enabling merchandisers to focus on product innovation and customer experience. With a total funding of approximately €3 million, Aifora is committed to revolutionising the retail industry through data-driven insights and automation.
Alex Therapeutics: Founded in 2018 and based in Stockholm, Sweden, Alex Therapeutics aims to transform healthcare by focusing on preventing chronic illnesses. The inventive startup combines advanced technology, research in psychology, and a user-centric experience to support patients in changing habits that contribute to poor health outcomes. Using state-of-the-art machine learning technology, Alex Therapeutics leverages real-life data to personalise treatment and streamline behavioural change, ultimately improving patients’ overall health and well-being. With a funding of approximately €532k, the startup is dedicated to revolutionising healthcare through innovative and personalised preventive care solutions.
ASSAIA: Founded in 2018 and based in Zurich, Switzerland, ASSAIA is dedicated to eliminating delays in the global air traffic system, thereby improving the efficiency and affordability of air travel. The startup offers an AI solution that monitors turnarounds in real-time, analysing footage from cameras installed at ramps and aerobridges. By processing the data, ASSAIA generates timestamps, predictions, and alerts to enhance operational management and optimise system performance. With the goal of creating a more efficient air travel experience, ASSAIA’s AI technology aims to improve turnaround processes and minimise delays in the aviation industry.
Aive: Montpellier-based fast growing startup founded in 2019, is disrupting the video production and distribution landscape. By harnessing the power of creative artificial intelligence and data-driven insights, Aive automates the post-production process of videos, optimising their format, duration, and personalisation while ensuring an enhanced viewer experience. With centralised ad-serving, unified data, and audit reporting, Aive empowers brands and creatives to efficiently distribute their videos across multiple platforms, delivering impactful and contextually relevant content. With approximately €2.5 million in total funding, Aive is poised to revolutionise the way brands and creatives approach video creation and distribution, paving the way for the future of video.
Jua: A pioneering Freienbach-based startup established in 2022 is revolutionising weather forecasting with its groundbreaking end-to-end deep learning model. With an emphasis on accuracy that surpasses expectations, Jua.ai provides an intuitive platform that allows startups, governments, and large companies to customise and develop global, high-frequency, and highly accurate weather models within a matter of days. With a substantial funding amount of €5 million, Jua.ai is poised to transform the field of weather forecasting, offering unprecedented capabilities that will shape the way we understand and respond to weather phenomena.
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Read the orginal article: https://www.eu-startups.com/2023/06/embracing-the-ai-revolution-unveiling-20-super-promising-european-startups/
