Artificial intelligence or machine intelligence refers to the intelligence shown by machines in a manner similar to that of humans. AI is trending across the globe and why not, since it has been useful in developing solutions across industries such as fintech, insurtech, healthtech, retail among many others.
Our previous article covered the TOP 10 AI Startups of superpower China. Here we will be discussing the TOP 10 AI Startups of Europe, where artificial intelligence is leading the way and holds strategic importance for the digital economy.
1. Meero
Founders: Guillaume Lestrade and Thomas Rebaud
Founding Year: 2016
Headquarters: Paris
Funding: US$ 293.4M
Investors: Global Founders Capital, Idinvest Partners, Alven, White Star Capital, Jeremy Yap, Prime Ventures, Eduardo Ronzano, Eurazeo, Aglae Ventures, Thibaud Elziere, INSEAD Business Alumni Angels France, GR Capital, Nicolas Douay, Avenir Growth Capital, Cascade Investment Fund
So, making it to number one on our list of Top 10 AI startups is Meero, it is an AI-driven startup offering quality photography services. It aims to empower photographers to follow their passion effortlessly and with utmost dedication and transform the world of photography. It takes care of all the time-taking tasks that trouble photographers such as revenues, market research, billing, post-production and delivery. Apart from these services, it also provides educational masterclasses, inspiring documentaries, biopics, meetups with photographers in 35 different nations, a magazine in 2 different languages and even a foundation backing photography globally.
Its photo editing technologies (currently being developed) can reduce post-production work time to a few seconds, solving various issues like long delivery times, unreliable photo rendering and unfair prices.
Meero has established itself as a leader in image processing artificial intelligence. It presently has 60K photographers associated with it and offices in 6 locations namely, Paris, New York, Los Angeles, Tokyo, Bangalore and Singapore.
2. Darktrace
Founders: Dave Palmer, Emily Orton, Jack Stockdale, Nicole Eagle and Poppy Gustasson
Founding Year: 2013
Headquarters: Cambridge
Funding: US$ 230.5M
Investors: Insight Partners, Summit Partners, Balderton Capital, SoftBank, Kohlberg Kravis Roberts, Future Fifty, Talis Capital, Vitruvian Partners, Hoxton Ventures, TenEleven Ventures, Isomer Capital and Invoke Capital Partners.
Darktrace is a renowned cyber artificial intelligence startup and also the creator of Autonomous Response Technology. Its self-driven artificial intelligence is a prototype of the human immune system and is used by almost 3.5K establishments to secure their cloud, email, IoT, networks and industrial structures.
Companies are able to safeguard themselves from threats such as industrial spying, IoT compromises, zero-day malware, data loss, supply chain risk and long-term infrastructure weaknesses. Darktrace claims that every 3 seconds their platform destroys a cyber-threat, hence averting damage.
3. Gousto
Founders: James Carter and Timo Boldt
Founding Year: 2012
Headquarters: London
Funding: US$ 179M
Investors: Business Growth Fund, Future Fifty, MMC Ventures, Unilever Ventures, Angel CoFund, Barclays, Hargreave Hale, Perwyn, BGF Ventures, Jon Wicks, Ian Wests, Andreas Raffel
Gousto is an online food ingredient and recipe manufacturer and retailer that uses artificial intelligence and automation to offer wide-ranging food choices and customization. It provides you with all the right ingredients in the right proportions to cook tasty meals at home.
It has been chosen as the best recipe kit service by the Independent, the Guardian, the Metro and Time Out London.
4. Onfido
Founders: Eamon Jubbawy, Husayn Kassai and Ruhul Amin
Founding Year: 2012
Headquarters: London
Funding: US$ 188.8M
Investors: Plug and Play, Salesforce Ventures, Idinvest Partners, Tuesday Capital, Wellington Partners, SBI Investment, Acequia Capital, Future Fifty, M12, Charlie Songhurst, TPG Growth, CreditEase Fintech Investment Fund, Oxford University Innovation, Talis Capital, Taavet Hinrikus, Crane Venture Partners, TempoCap, Augmentum Fintech, Fin Venture Capital, Capability and Innovation Fund, Brent Hoberman, Frederic Mazzella, William Reeve, Saïd Business School and 10 other angel investors.
Onfido builds AI-driven identity verification technology that first evaluates a user’s ID, and then compares their facial bio-metrics. They help businesses identify their customers using authorized IDs and facial bio-metrics by using artificial intelligence to make sure that the IDs are genuine and corresponding to the users representing them.
They have a roster of clients present worldwide across various industries such as fintech and banking.
5. SOPHiA GENETICS
Founders: Jurgi Camblong, Lars Steinmetz and Pierre Hutter
Founding Year: 2011
Headquarters: Lausanne, Switzerland
Funding: US$ 140.2M
Investors: Idinvest Partners, Balderton Capital, Foundation for Technology Innovation, 360 Capital Partners, Swisscom Ventures, Reference Capital, Generation Investment Management, Endeavour Vision, Invoke Capital Partners, Alychlo, Marc Coucke.
While writing about Top 10 AI startups in 2020, SOPHiA GENETICS proudly deserves a spot. It is a biotech company that integrates its deep expertise in medical disciplines with its mathematical competences in data computing. It provides genomic and radiomic analysis to hospitals. Its aim is to empower healthcare specialists by providing them with data-driven medicine capabilities.
It uses SOPHiA AI, built using statistical inference, pattern recognition and machine learning. SOPHiA provides equal benefits to all users, unites specialists in a premium health-tech platform and encourages expert knowledge to make a good impact on future patients.
6. Unbabel
Founders: Bruno Prezado, Hugo Silva, João Graça, Sofia Pessanha , Vasco Pedro
Founding Year: 2013
Headquarters: Lisbon, Portugal
Funding: US$ 91.2M
Investors: EASME, Y Combinator, Matrix Partners, Greycroft, Salesforce Ventures, FundersClub, e.ventures, Scale Venture Partners, Samsung NEXT, M12, Notion, Digital Garage, Structure Capital, Amino Capital, Elad Gil, Point72 Ventures, Caixa Capital, Investo, Raymond Tonsing, Wefunder, Workday Ventures, Ryan Petersen, Adeyemi Ajao, Augusta Investments LLC, Faber, Errol Damelin, Kevin Rose, Roger Dickey, Terrence Rohan, Indico Capital Partners, Shilling Capital Partners, Rob Emrich, Klaus von Sayn-Wittgenstein, David Peterson, Young Guo
Unbabel provides an AI-driven technology to enterprises that enable them to serve their customers in their native languages across digital channels. It combines the speed and size of machine translation with the genuineness that one gets to hear only from a native speaker.
Top brands like Facebook, Microsoft, Booking.com and EasyJet use Unbabel to make their customers satisfied and their support operations more efficient.
7. ComplyAdvantage
Founder: Charles Delingpole
Founding Year: 2014
Headquarters: London
Funding: US$ 88.2M
Investors: Index Ventures, Balderton Capital, Ontario Teachers’ Pension Plan, Ross Mason.
ComplyAdvantage develops AI-driven monetary crime risk data and detection technology. Its aim is to reduce the cases of money laundering, terrorist funding, corruption, and other financial crimes.
Its technology is used by over 500 businesses in 75 nations to understand and minimize the financial risks they have been facing or might face ahead in the future. ComplyAdvantage aggressively identifies multiple risk events from millions of structured and unstructured data points every single day.
8. Quantexa
Founders: Imam Hoque and Vishal Marria
Founding Year: 2016
Headquarters: London
Funding: US$ 88M
Investors: Future Fifty, HSBC, AlbionVC, Dawn Capital, Accenture, Evolution Equity Partners, ABN AMRO Partners, Accenture Partners, British Patient Capital.
Quantexa is an IT Company that holds expertise in the fields of analytics, data science and big data. Its platform enables better utilization of data by companies and organizations. It uses real-time object resolution with network analytics and artificial intelligence to combine vast and dissimilar data sets. The company is led by a team of professionals in advanced analytics and data-fixated solutions. Quantexa is operating worldwide with offices in the UK, Brussels, New York, Boston, and Sydney.
9. Socialbakers
Founders: Jan Rehab, Jiri Voves, Lukas Maixner and Martin Homolka.
Founding Year: 2008
Headquarters: Prague
Funding: US$ 34M
Investors: Index Ventures and Earlybird Venture Capital
Socialbakers is a global AI-driven social media marketing platform. Its marketing SaaS platform helps small and large brands make sure their investment in social media is delivering quantifiable business results. Popular brands like McDonald’s, L’Oreal and Desigual use Socialbakers for social media marketing on Facebook, Instagram, Twitter, YouTube, LinkedIn, Google+, VK, and Pinterest.
Socialbakers has been a Facebook Marketing Partner since 2011, a Pinterest Marketing Partner since 2017 and a LinkedIn Marketing Partner since 2017.
10. Claimsforce
Founders: Bastian Schweitzer, Nils Mahlow
Founding Year: 2018
Headquarters: Hamburg
Funding: US$ 8.2M
Investors: Point Nine Capital, Notion, La Famiglia, Fly Ventures, Florian Huber, Stefan Rothlehner
Last but not the least on our list of Top 10 AI startups of europe is Claimsforce. It is an AI-driven insurance that enables automation of the claims management process. The SaaS-based technology uses artificial intelligence and machine learning to provide an efficient, accurate, reasonable and customer-focused claims management platform.
With the help of its AI-powered regulation control and increased data points, insurers can evaluate the damage, analyze the claims and settle rapidly.
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