The Zurich startup company DeepCode has raised 3.92 million Swiss francs in a second seed round led by Berlin-based venture capital firm Earlybird. Last year, the spinoff from the Federal Institute of Technology in Zurich (ETH) raised startup financing amounting to 1.1 million francs. According to startupticker.ch, the additional funds will enable the startup company to support further integrations and programming languages.
DeepCode has developed a technology based on artificial intelligence (AI) that makes AI-based recommendations to developers. The software assistant can help find and correct mistakes in the code, as well as identify more critical bugs and vulnerabilities than other tools. It is free for teams of up to 30 developers, open-source software and educational use.
"The team has a deep scientific understanding of code optimization and uses artificial intelligence to deliver the next breakthrough in software development," commented Earlybird partner and co-founder Christian Nagel.
“We appreciate having investors that fully understand the opportunities for AI and machine learning in software development,” said Boris Paskalev, CEO and co-founder of DeepCode. “Knowledge gained from open source software helps developers write clean and secure code in a fraction of the time that it would normally take.”