Prague-based AI Startup Incubator (AISI) has opened a new investment fund exclusively for AI start-ups called Look AI Ventures. It aims to raise €20 million which will be invested in early stage AI-driven companies.
The fund wants to highlight promising AI projects on the European market, focusing on the CEE region. The targeted investment amount in one start-up is €250,000 and mentorship will be provided.
"Artificial intelligence is in a unique situation. On the one hand, it is a proven mega trend, but at the same time, it is far from reaching its full potential. Regarding the economic situation, we view the timing of the market as extremely favourable, given there are high-quality projects under much better conditions than in recent years," says Martin Dostál, Chief Science Officer and Partner at AI Startup Incubator and a member of the Look AI Ventures Investment Committee.
The fund was set up by a team of managers, entrepreneurs, and technology and artificial intelligence experts. The founders are major Czech investors with over 20 years of experience: Daniel Kunz, Pavel Rosendorf, and Alexander Brányik. The team also consists of AISI partners Martin Havlík, Martin Dostál, and Angelo Burgarello, who are members of the LAIV Investment Committee and manage the scouting and evaluation processes of investments.
"Fund focused on AI is good news for start-ups that develop deep tech and are looking for investors who understand them from a technology perspective. Such a strategic partner can better understand the potential and value of the start-up. At the same time, they can bring not only finance but also industry know-how to the growth of start-ups," says Ivo Denemark, Director of the Start-ups and Innovative SMEs Division at CzechInvest.