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Friday, April 19, 2024
HomeFinTechInstill AI: Raises $3.6M in Seed Funding

Instill AI: Raises $3.6M in Seed Funding


Instill AI Raises $3.6M in Seed Funding

  • Instill AI, a London, UK-based startup providing tools to derive insights or generate content from unstructured data, raised $3.6M in Seed funding
  • The round was led by RTP Global, with participation from Lunar Ventures, Hive Ventures, Charles Songhurst, Demetrios Kellari, and Mehdi Ghissassi
  • InstillAI provides no-/low-code tools to convert unstructured data to meaningful data representations
  • Users can integrate its service into their data stack, and start tapping into their unstructured data and benefit from AI in a snap
  • The company has also introduced its open-source project — Versatile Data Pipeline (VDP) for unstructured data ETL (Extract, Transform and Load), that brings AI into the modern data stack
  • The company intends to use the funds to expanding its hiring efforts and aims to double its headcount by the end of 2023, in order to launch, later this year, a fully managed cloud service of VDP

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