AutogenAI, a London, UK-based company that offers natural language processing solutions to help companies write compelling draft bids, proposals, and tenders in minutes, raised $22.3 million in a fresh round of funding from UK-based venture capital firm Blossom Capital.
The fresh funding will be used to advance its technology and expand internationally.
AutogenAI has created a tool based on generative AI that aims to help businesses improve their bid writing and increase their success rate.
The company’s software generates substantial savings for businesses and governments by reducing bidding costs. These cost reductions can be reinvested in frontline services, benefiting society as a whole.
In just six months, AutogenAI claims to have secured 28 clients ranging from global management consultancy to non-profits.
Sean Williams, the founder and CEO of AutogenAI, says, “We build language engines that help organizations to write bids, tenders and proposals more efficiently and more effectively. Our technology augments human expertise by enhancing the power of bid writing teams. This is a clear example of AI being used for public good, reducing the cost of bidding and freeing up taxpayers’ money for the delivery of services. We’re looking forward to working closely with Blossom Capital to build on the progress we’ve achieved so far.”
Company: Autogenai Ltd
Raised: $22.3M
Round: Unknown
Funding Month: July 2023
Lead Investors: Blossom Capital
Additional Investors:
Company Website: https://autogenai.com/
Software Category: Writing Software
About the Company: Founded in 2022 by Sean Williams, AutogenAI is a B2B company that uses large language models (LLMs) and custom-made Language Engines to help bid writing teams generate content backed by publicly and privately available data. The company is on a mission to use artificial intelligence as a supercharger for human ingenuity and make the world a better place.
Source: https://siliconcanals.com/crowdfunding/autogenai-secures-20m/