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- AI startup Hypatos has raised $11 million in a funding round backed by Europe’s BlackFin Tech and Grazia Equity.
- The company uses artificial intelligence to automate back-end office processes, such as processing invoices and receipts.
- Maxime Mandin, investment director at BlackFin Tech, said Hypatos solved a ‘pain point’ faced by many companies.
- Business Insider got an exclusive look at the pitch deck Hypatos used to bring investors on board.
- Visit Business Insider’s homepage for more stories.
Hypatos, the AI startup helping businesses process financial documents on a mass scale, has raised $11 million in a funding round backed by European backers BlackFin Tech and Grazia Equity, among other backers.
Founded in 2018 by Uli Erxleben and Janosch Novak in Berlin, Hypatos combines language processing AI and computer vision tech with a massive in-house training dataset, allowing clients to process and and store huge amounts of information quickly.
The tech allows firms to automate backend processes, such as processing payslips, receipts, bank statements, and other types of document.
“Processing large amounts of documents is a pain point in many industries and especially for the financial and insurance sectors,” said Maxime Mandin, investment director at BlackFin Tech.
Check out the pitch deck Hypatos used to bring investors on board below: