Wordnerds, a Gateshead, UK-based enterprise that makes use of AI to coach computer systems to know unstructured textual content, raised £1.6M in funding.
The spherical consisted of £720K from two of Northstar Ventures’ funds, with £160K from the Northstar EIS Development Fund and £560K from the North East Innovation Fund, supported by the European Regional Improvement Fund. The remaining funds have been from early-stage traders, Stephen Zinser and Leigh Cresswell, and a £521K grant from Innovate UK’s Future Financial system Investor Partnership programme.
The corporate intends to make use of the funds to increase operations and its growth efforts.
Led by Pete Daykin, CEO, Wordnerds has developed an AI-enabled product which gives fast evaluation to client dealing with companies, permitting these companies to drill all the way down to actionable insights in a matter of minutes.
Organizations corresponding to Sainsbury’s, M&S, Community Rail and the Division for Work and Pensions are already utilizing the corporate’s product.
FinSMEs
