chatbots

Nettle.ai, a Slovak startup that seeks to provide intelligent conversational solutions, announced early in March 2021 that it has raised €1 million in its latest funding round. The round witnessed major participation from Crowdberry investors and the VFF investment fund.

Investors:

Crowdberry is an equity-based crowd-investment platform from Slovakia. It seeks to connect proven and growing startups with private and professional investors. For a company to gain access to Crowdberry’s crowd platform it has to go through a selection process after which it can connect with investors looking to make generous contributions for a stake.

“Conversational technologies bring considerable savings and streamlining for companies, for which quality customer service these days is a question of prestige or reputation. nettle.ai has the advantage of being a small firm that, thanks to its technological/business background, can very flexibly react to the requirements of large companies”—Michal Ondrišek, partner at Crowdberry.

Similarly, VFF ( Venture to Future Fund) is a Slovakian venture fund that focuses on future-oriented technology companies. It was established in 2019 as a joint initiative of the European Investment Bank and the Ministry of Finance of the Slovak republic.

The funds, according to nettle.ai, would be utilised to further its growth, marketing and complete its product portfolio.

About nettle.ai: 

Established in 2018, nettle.ai is an artificial intelligence and machine learning based conversational technology provider. It is dedicated to the design of AI-based conversational interfaces or chatbots that can communicate with the customers in lieu of actual human interaction.

It already has companies like Samsung, Jaguar Land Rover and Eset using its AI technology to communicate with customers. Further, it received several awards including the Best AI/ML startup award as part of the Central European Startup awards in 2019.

What the founder has to say:

“We appreciate the confidence that these investors have shown in us and see the investment as a significant advancement in our development. We want to build on our competitive advantage, which is our own software; the ability to design and implement a functional chatbot tailored to the needs of the client; and our unique partnerships. Thanks to the investment, we will start looking at comprehensive vertically-oriented conversation interfaces that enable us to scale projects, in addition to the project deliveries of chatbots, mailbots and voicebots. A chatbot for a seller of automobiles and a chatbot for the collection of debts are some of the first such “boxed” products we have created”—Andrej Greguš, co-founder of nettle.ai.

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Raghavendra writes about the startup ecosystem on VC Bay. He is a final year undergrad at Indian Institute of Management and Commerce. Besides being a sports enthusiast, he is passionate about the world of finance and startups.

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