British AI startup re:infer has announced a $3.5 million funding round led by IP Group’s Touchstone Innovations along with participation from Crane Ventures, Seedcamp, and AI investor Dr Jason Kingdon.
Re:infer’s AI tech automates and interprets communication data to make sense of unstructured or muddled information. The London-based startup was spun out of the AI lab at University College London, the lab that is working with Google’s Deepmind.
The tech gives clients a greater understanding of their communications in real time and at scale, said Ed Challis, CEO.
“Clients can detect and service customer needs they’d otherwise miss – accounting for huge increases in customer satisfaction,” he said. “By automating communications data, we drastically improve fulfilment from hours to seconds and massively increase throughput and efficiency – in some settings by over a thousand times.”
Re:infer works with ecommerce, banking, and insurance companies. It will be investing the new funds in further product development as well as expanding the sales and marketing side of its business.
Perceptual infrastructure will be the next big application of AI in corporate world, according to investor Dr Jason Kingdon.
“It means infrastructure effectively become part of the management team, introducing scale and coherence that is otherwise unobtainable. It also offers the ability for businesses to start collaborating with customers on a mass scale,” he said.