Business News Report
January 25, 2024

Send AI Raises $2.39M Funding from Google to End Manual Data Entry Work

Send AI Raises $2.39M Funding from Google to End Manual Data Entry Work

Dutch AI startup Send AI raised $2.39 million (€2.2 million) funding led by Google’s AI fund, Gradient Ventures, and Dutch VC firm, Keen Venture Partners. The pre-seed round of funding also saw participation from former and current executives of UiPath, MongoDB, and Google DeepMind.

The company plans to use the funding to expedite the development of internal AI models and to expand globally.

“Nowadays, people prefer to transfer a document by taking a photo. Due to varying photo quality, traditional document processing software gets stuck more frequently. It also happens that multiple receipts are in one frame. Upright, upside down, different angles – people are very creative,” said Thom Trentelman, co-founder and CEO of Send AI.

“In such cases, data entry works are prompted to copy-paste the information from the document by hand, which is a time-consuming and error-prone task,” he added.

Founded in 2021, Send AI is developing technology that automatically reads documents and extracts key information. The company’s technology is adept at handling complex documents, such as photographed paperwork, low-quality scans and lengthy PDFs.

According to Send AI, large companies use its software platform to fine-tune AI models to process documents quickly and accurately. It aims to eliminate repetitive data entry work that still causes enterprises to lose fortunes every year.

Send AI Raises $2.39M Funding from Google to End Manual Data Entry Work

By leveraging small, yet powerful open-source AI models, users can adopt their models which are only trained and hosted for their purposes. This enhances both data security and performance.

Send AI’s Platform Features to Enhance Data Processing

To make data processing better, Send AI has a suite of features aimed at enhancing user experience and efficiency. Among these features is Scan to Text, a tool leveraging optical character recognition (OCR) technology to convert images or scans into editable text while preserving the original format.

Send AI Raises $2.39M Funding from Google to End Manual Data Entry Work

Moreover, it offers data extraction capabilities, letting users train custom language models for the automatic extraction of entities with precision. This can be done even with minimal initial training data. This feature streamlines workflows by identifying specific entities within documents, saving time and resources.

Send AI also facilitates data export, allowing users to export processed data according to their preferences. The platform also offers Type Checking for validation purposes, ensuring the accuracy and integrity of exported data.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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