Raises €7.64 Million in Funding

by Kay Aloha Villamor in May 30th, 2024, an Oslo, Norway-based provider of an AI engine for scientific text understanding, raised €7.64 million in funding.  


The round was led by Silverline Capital and supported by the European Innovation Council (EIC) Accelerator Fund.   

Silverline Capital provides mezzanine and equity financing solutions to mid-market businesses in Bulgaria. It was founded in 2019 and is based in Sofia, Bulgaria. Use of Funds  

The company will use the funds to propel its growth and innovation in the AI-assisted scientific research landscape. With the funding, plans to enhance its flagship offering, RSpace, further augmenting its factual capabilities.  

About specializes in AI-driven scientific text understanding. Their platform offers a solution to the challenge of managing the vast amount of scientific literature being published. By combining proprietary scientific language models with generative AI technology, enables users to navigate, categorize, summarize, and systematize data and facts from academic papers, patents, and other technical documentation accurately. The company's flagship offering is the RSpace tool suite, which provides researchers in various fields such as material science, food science, medical, biotech, agriculture, chemistry, automotive, and cosmetics with actionable insights derived from the latest scientific knowledge.  

Funding Details                                       

Company: Iris AI AS  

Raised: €7.64M                           

Round: Unknown  

Funding Month: May 2024                      

Lead Investors: Silverline Capital    

Additional Investors: European Innovation Council (EIC) Accelerator Fund  

Company Website:   

Software Category: AI Science Assistant  




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