Aisot has secured fresh capital of 285,000 US dollars as part of a pre-seed financing round, details of which can be found in a press release. The round was led by the FinTech incubator F10, while private investors were also involved in the process.
Aisot was founded in 2019 by experts from the Swiss Federal Institute of Technology in Zurich (ETH). The start-up is developing smart digital tools that can be used to make forecasts and carry out analytical processes for the financial sector. According to information from the company itself, the tools can help reduce forecast errors by up to 50 percent.
“The funding made it possible to onboard key talents that helped to build the product and the strategy in the last months. And we are planning to recruit additional software developers and data scientists in the weeks to come”, explains Stefan Klauser, Co-Founder and CEO of Aisot, in the press release.
The pre-seed financing round is the first major step in the direction of growth for the company. In the second half of the year, Aisot intends to secure additional investment in the amount of 2 million US dollars as part of a seed round, which would go towards financing the further development of the company. In actual fact, Aisot has already managed to find willing investors for more than half of this target volume.
Aisot generated annual recurring revenues of 90,000 US dollars in its first year of operation. In its second operating year, the company is aiming to achieve annual recurring sales totaling 1 million US dollars.