The Zurich-based start-up LogicFlow has raised a total of 500,000 Swiss francs as part of a pre-seed financing round. Among the investors to take part in the financing round were business angels and the Venture Kick initiative, as detailed in a press release.
LogicFlow was only founded in 2020. The company specializes in the development of automated software migration solutions on the basis of Machine Learning. These allow companies to process IT migrations both more rapidly and at lower costs. According to the company’s website, cost savings of up to 60 percent could be generated. Technical migrations represent a huge challenge for IT teams, LogicFlow explains. The reason for this is that while companies do seek to modernize and move with the times, outdated coding results in falling productivity.
With this fresh capital injection, LogicFlow intends to further develop its migration solutions and expand its market presence. At the moment, a Swiss bank is testing the start-up’s solution, the press release explains.
Venture Kick has also previously supported LogicFlow, with the start-up benefiting from financial backing to the tune of 150,000 Swiss francs in the summer of 2020.