Silico, a London, UK-based AI-powered decision-making platform has announced the completion of a £3.4 million seed round of investments, led by German VC Join Capital.
Existing investors Forward Partner also participated in the latest round, along with ‘high-profile’ angel investors from the B2B and enterprise automation space.
The funding will be used to build out Silico’s core engineering team and deliver an enhanced AI recommendation function, boosting the capabilities and range of the product. The funding will also be used to expand Silico’s reach across Europe.
As part of the investment agreement, Sebastian Von Ribbentrop of lead investors Join Capital will take a seat on the board at Silico.
Company: Silico Ltd.
Round: Seed Round
Funding Month: March 2022
Lead Investors: German VC Join Capital
Additional Investors: Forward Partner
Company Website: https://www.silicoai.com/
Software Category: AI-powered decision-making platform
About the Company: Founded in 2020, Silico is a provider of decision-making software that enables businesses to create digital twins of any business or process quickly, and to simulate forwards in time. Silico’s range of enterprise data sources provide analysts with insights into business decision-making, including financial planning, market forecasts, and general optimization. Silico empowers organizations to continuously test the impact of different outcomes in a ‘risk-free’ simulation environment before they make changes in the real world. Silico is already working with global enterprises across the banking, telecoms, healthcare, and chemicals industries, with clients such as Vodafone.