Munich Startup
Pre-seed: Million-euro investment for Summ AI

Pre-seed: Million-euro investment for Summ AI

The Summ AI founding team (from left to right): Vanessa Theel, Nicholas Wolf, and Flora Geske

The Summ AI founding team (from left to right): Vanessa Theel, Nicholas Wolf, and Flora Geske

Regina Bruckschlögl

Regina Bruckschlögl

Summ AI secures a seven-figure amount in a pre-seed financing round. With the fresh investment, the Munich startup plans to expand its sales department and further develop its AI-based product portfolio.

October 17, 2023

2 min. read time

Plain language is not “just” the avoidance of long sentences, but a defined language style from the field of accessibility that makes information accessible and understandable for everyone through short sentences, simple grammar, and additional explanations. So far, texts have been manually translated into plain language, which is expensive and time-consuming.

The Munich startup Summ AI wants to change that with its AI-based technology. Its AI-powered tool ‘Summ AI’ automatically translates any complicated text into plain language, making information accessible and understandable. With its solution, Summ AI primarily targets authorities and companies that are subject to legal accessibility requirements or want to offer plain language in order to communicate inclusively and understandably with customers and employees.

Up to 20 million people affected

Founder and CEO Flora Geske explains:

“Up to 20 million people in Germany are currently excluded from important information because they cannot understand complicated texts due to learning difficulties, educational disadvantages, or poor German language skills.”

A problem that has now also been recognized by investors: In a pre-seed round, Venture Stars, Müller Medien, Jvh Ventures, Superangels, as well as a family office and business angels are investing a seven-figure amount in the Munich startup. With this investment, Summ AI plans to expand its team, especially in the sales department, and further develop its AI-based product portfolio.

Planned B2B market entry

Summ AI can already demonstrate customers in the B2G segment. The city of Hamburg, the city of Aschaffenburg, and the cybersecurity agency BaWü are relying on the Munich solution. The startup is now also planning its B2B market entry. There, the Accessibility Enhancement Act applies from 2025, meaning companies must expand their accessible offerings of products and services.

Summ AI was founded in 2022 by Flora Geske, Vanessa Theel, and Nicholas Wolf. The three founders tell how they met in an interview with Munich Startup:

“We […] know each other from our studies at TU München. We met in an interdisciplinary Master’s program Finance & Information Management – short “FIM” – and quickly realized that we practically had the tools for founding ‘in the cradle’ in our team, because we cover the fields of mathematics, computer science, and business.”

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