Digital Iron, a Belfast, Northern Ireland-based provider of an AI-driven platform designed for the heavy machinery dealership industry, raised £1.6 million in pre-seed funding.
Investors
The round was led by a consortium of early-stage investors, including Seedcamp, Concept Ventures, RTP Global, C2V, and FJ Labs.
Founded in 2007, Seedcamp is a venture capital firm based in London, United Kingdom. The firm prefers to invest in the technology and software sectors.
Concept Ventures is a venture capital investment firm based in London, United Kingdom. Founded in 2016, the firm seeks to invest in pre-seed and seed-stage companies operating in the fintech, enterprise, and entertainment sectors.
Founded in 2000, RTP Global is a venture capital investment firm based in New York, New York. The firm has additional offices in Bengaluru, Dubai, London, and Paris. The firm seeks to invest in technology companies across multiple stages and sectors in the United States, Europe, India, and Asia.
C2 Ventures is an early-stage investment platform that bridges the gap between founders and capital through support, connections, and experience.
FJ Labs is a stage-agnostic venture fund headquartered in New York City. The firm focuses on marketplaces and consumer-facing startups.
Digital Iron Use of Funds
The company will use the funds to further develop its technology, expand the team, and scale operations to meet the demand from dealerships worldwide.
About Digital Iron
Founded by Ciaran Gillen and Salina Brown, Digital Iron provides an AI-driven platform that leverages advanced AI models trained on a vast array of data sources to offer intelligent diagnostics and efficient parts sourcing, helping dealerships reduce downtime, improve operational efficiency, and increase revenue. The platform integrates the user’s machinery manuals, CRM data, and ERP system to create a centralized source of data and charge their after-sales team, providing customer service and proactive parts sales.
Funding Details
Company: Digital Iron
Raised: £1.6M
Round: Pre-Seed Round
Funding Month: June 2024
Lead Investors: Seedcamp, Concept Ventures, RTP Global, C2V, FJ Labs
Additional Investors:
Company Website: https://www.digitaliron.com/
Software Category: Generative AI and Data Ingestion Solutions
Source: https://www.finsmes.com/2024/07/digital-iron-raises-1-6m-in-pre-seed-funding.html