The Munich-based AI startup E-Bot7 successfully completes Series A financing of 5.5 million euros. The lead investor is the Russian venture capital firm RTP Global.
The Munich-based start-up E-Bot7 E-Bot7 develops and integrates artificial intelligence (AI) and deep learning into existing customer service systems. This approach has won over Russian venture capital firm RTP Global as lead investor. The Series A financing round of €5.5 million is also being joined by Existing investors How 42CAP, Main Incubator (Commerzbank's early-stage investor), and a private investor. The AI startup had just received €2 million in funding in the fall of 2018.
The founders Fabian Beringer and Xaver Lehmann are pleased about the new lead investor and say:
“RTP has brought important partners on board through its many years of international experience, strong network, and know-how, enabling E-Bot7 to expand into other countries, even beyond Europe.”
With the cash injection from the new investment round, E-Bot7 plans to further expand its technology and business development team. This will expand its AI solution and help new customers integrate artificial intelligence into their customer service. The startup currently has nearly 30 positions open.
E-Bot7 wants Series A financing use for further expansion
The founders further explain:
"Our goal is not only to offer the best AI-based technology and thus revolutionize customer service, but also to make it as easy as possible for companies to implement and use such technology. That's why we've built a 'plug and play' solution that companies can use directly without any development effort."
The Munich-based startup's solution automates customer service processes. It analyzes incoming messages, routes them to the appropriate department, and provides suggested responses. Alex Pavlov, Partner at RTP Global, says:
"Customer service automation is a huge market, and E-Bot7 has successfully demonstrated that its solution delivers significant benefits to customers across multiple industries. We see tremendous potential to further expand the technology and expand our customer base across Europe."
