Automated document processing platform Rossum raises $100M
VentureBeat
Rossum, a platform used by enterprises to automatically process and “understand” all their inbound documents, has raised $100 million in a series A round of funding. Sources say that Rossum is now valued at somewhere between $500 million and $1 billion.
Of further interest
PangeAI emerges from stealth to democratize access to geospatial data
(press release) A startup founded by Johanna von der Leyen and Marek Miltner at Stanford is changing the way companies and public institutions work with geospatial data. Instead of needing to hire a team of GIS experts, PangeAI agents allow making complex analyses and decisions involving physical infrastructure as easy as typing a prompt. The goal is to make the physical world as searchable and understandable as the digital one.
Every company wants to become more efficient thanks to AI, and almost none succeed. Miton is investing €400k into a startup that wants to fix this.
(press release) Even though companies know very well that AI can significantly increase their efficiency, most never get further than paying for ChatGPT accounts for their employees. It’s not motivation they lack - most fail in the implementation phase. The problem lies in the approach companies take: they treat AI as if it were traditional software. And this is exactly where Bandits comes in, a new project by Jiří Štěpánek, Kryštof Mitka and Miton.
Building an AI startup: Discussion with Tomáš Gogár (Rossum) and Martin Schmid (Equilibre).
The guests of the Miton AI Times event were Tomáš Gogár (co-founder and CEO of Rossum) and Martin Schmid (co-founder and CEO of Equilibre), who joined to discuss the challenges of building an AI startup.