Munich-based AI startup e-bot7 secures million euro financing
Terminator or Utopia – the topic of artificial intelligence is often misunderstood. Therefore the E-bot7 founders also do a lot of education in order to win customers.
What does roaming in Seychelles cost me? When will my package arrive? It is questions like these to which the chat software of the AI startup e-bot7 should have the right answers. All content typed or spoken and for all possible areas. The Munich-based company around the founders Fabian Beringer, Xaver Lehmann and Maximilian Gerer has now raised new capital: 5.5 million euros in total.
The money comes from the investor RTP Global, which is also involved in Delivery Hero, Sumup or Urban Sports Club, as well as the former investor 42CAP, the Main Incubator, an early-stage investor of the Commerzbank Group, and a Business Angel. With the capital, e-bot7 wants to grow beyond the German-speaking area and learn new languages in order to gain an international foothold. “The software will understand for example asiatic languages soon, there is a lot of potential in these markets, says founder Fabian Beringer to Gründerszene.
Beringer founded e-bot7 at the beginning of 2016 together with two long-time school friends from his studies. Today the company has 36 employees, and this year the team is to be expanded to up to 50. With the opening of new offices in London and Paris and an existing branch in the United Arab Emirates, e-bot7 could employ up to 100 people next year, says Beringer. In particular, the areas of tech and data science are to be expanded. As a German start-up in a competitive international environment, it is difficult to find the right employees. “Good developers go to the USA and stay there,” says Beringer.
e-bot7’s customers include companies such as O2, Deutsche Bahn, the insurance company HDI and Commerzbank. According to Beringer, they could obtain the customers by participating in accelerator programs, events, addressing them on Linkedin or through the recommendation of existing customers. “With AI it is important to talk a lot about realistic use cases. This way you can also reach new customers.”
When it comes to artificial intelligence, discussions are usually characterized by fear or illusion. “A lot of information is misunderstood,” says Beringer and criticizes the lack of realism. e-bot7 has set up its own user network and offers consulting services to help educate the public. The founders also participate in the German AI Federal association among other things.