Today Aptus.AI, an Italian startup making machine-readable documentation, announced €3 million Pre-Series A funding.
The company has developed proprietary AI technology that generates machine-readable versions of legal documents, making all relevant national and European regulations easily accessible and consultable. The result is the Daitomic platform, a real-time updated regulatory technology (regtech) SaaS.
Aptus.AI has already gained traction, securing clients such as Intesa Sanpaolo, Generali Investments, and MPS, while simultaneously initiating several pilot projects with significant industry players. The investment is led by VC P101, with contributions by business angels and Fin+Tech, the accelerator of CDP Venture Capital, which followed this round after also participating in a previously raised round of €1.2 million Seed investment.
Andrea Tesei, co-founder and CEO of Aptus.AI, comments:
"We are determined to uphold the Italian flag in a sector like RegTech, which is proving increasingly important and strategic internationally, enabling large organisations to develop their offerings rapidly and correctly, thus remaining competitive and benefiting end consumers and the socio-economic fabric.
By combining AI for data extraction with generative AI, our solution can achieve a very high level of precision in responses even for a complex and nuanced field like the legal one, with extraordinary positive impacts."
Lorenzo De Mattei, co-founder and CTO, adds:
"The heart of our artificial intelligence is its revolutionary ability to convert legal documents of any format into a machine-readable standard. This innovation opens up a world of previously inconceivable interactions with legal texts for AI users and systems.
The result is a suite of extraordinarily efficient tools that include interactive regulatory consultation, automatic custom notifications, automatic management and updating of legal inventory, and instant impact analysis.
Our machine-readable format provides a set of data and legal information in digital format that allows us to create more precise Generative AI models, significantly limiting so-called 'hallucinations' in an area like the legal one, where the accuracy of responses is essential."
Giuseppe Donvito, Partner of P101, comments:
"At P101, we are excited to join forces with the Aptus.AI team. This represents P101's first investment in the dynamic RegTech market, a rapidly expanding sector.”
Lead image: Andrea Tesei, co-founder and CEO, and Lorenzo De Mattei, CTO of Aptus.AI. Photo:Uncredited.