Send AI Raises $2.39M Funding from Google to End Manual Data Entry Work
In Brief
Send AI raised $2.39 million funding led by Google’s AI fund to expedite the development of internal AI models and to expand globally.
Dutch AI startup Send AI raised $2.39 million (€2.2 million) funding led by Google’s AI fund, Gradient Ventures, and Dutch VC firm, Keen Venture Partners. The pre-seed round of funding also saw participation from former and current executives of UiPath, MongoDB, and Google DeepMind.
The company plans to use the funding to expedite the development of internal AI models and to expand globally.
“Nowadays, people prefer to transfer a document by taking a photo. Due to varying photo quality, traditional document processing software gets stuck more frequently. It also happens that multiple receipts are in one frame. Upright, upside down, different angles – people are very creative,” said Thom Trentelman, co-founder and CEO of Send AI.
“In such cases, data entry works are prompted to copy-paste the information from the document by hand, which is a time-consuming and error-prone task,” he added.
Founded in 2021, Send AI is developing technology that automatically reads documents and extracts key information. The company’s technology is adept at handling complex documents, such as photographed paperwork, low-quality scans and lengthy PDFs.
According to Send AI, large companies use its software platform to fine-tune AI models to process documents quickly and accurately. It aims to eliminate repetitive data entry work that still causes enterprises to lose fortunes every year.
By leveraging small, yet powerful open-source AI models, users can adopt their models which are only trained and hosted for their purposes. This enhances both data security and performance.
Send AI’s Platform Features to Enhance Data Processing
To make data processing better, Send AI has a suite of features aimed at enhancing user experience and efficiency. Among these features is Scan to Text, a tool leveraging optical character recognition (OCR) technology to convert images or scans into editable text while preserving the original format.
Moreover, it offers data extraction capabilities, letting users train custom language models for the automatic extraction of entities with precision. This can be done even with minimal initial training data. This feature streamlines workflows by identifying specific entities within documents, saving time and resources.
Send AI also facilitates data export, allowing users to export processed data according to their preferences. The platform also offers Type Checking for validation purposes, ensuring the accuracy and integrity of exported data.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
