Billions go to Prague. Artificial intelligence has gained investors
Both Rossum and Resistant AI are members of the prg.ai association, which founded the Czech Technical University, Charles University, the Academy of Sciences of the Czech Republic and the capital city of Prague.
“This is extremely good news for the Czech Republic. Rossum is based in Prague, and will hire hundreds of highly qualified people in the capital in the coming years. Thanks to companies such as Rossum, Rohlík.cz and other promising startups, a technological ecosystem is being created that can kick-start the Czech economy as a whole, ”comments Miton’s partner Tomáš Matějček. His company is dangerous to invest in Rossum.
It received about 2.2 billion crowns ($ 100 million). The investment round was led by one of the most famous American venture capital funds, General Catalyst, which was joined by existing Rossum investors, the British SeedCamp and Local Globe funds, and the Czech Miton. Rossum uses artificial intelligence to change the way companies can save up to 90 percent on manual document processing work.
The startup Resistant AI was sent to investors – Google Ventures, Index Ventures, Credo Ventures and Seedcamp – almost 400 million crowns ($ 16.6 million). Resistant AI focuses on detecting and preventing manipulations with artificial intelligence. It ensures for its clients that their AI-driven processes are not compromised by cybercriminals.
“Prague companies focused on artificial intelligence and machine learning are able to deliver products and services that can withstand global competition and are of interest to international investors,” says Lenka Kučerová, director of the prg.ai association.