Artificial intelligence and machine learning company Actable AI raises $1.2 million in its pre-seed funding round led by London-based venture capital firm, Begin Capital.
Other investors like Charlotte Street Capital, Malta Enterprise, and several more from the United Kingdom, Singapore, and the United States also participated in the funding round.
Actable AI wants to use the newly raised funds to make data analytics more accessible for one billion spreadsheet users across the world.
Actable AI allows spreadsheet users with no prior knowledge of statistics and programming to analyze data using advanced AI-based analytics directly in Google Sheets and Excel. Additionally, the company plans to launch its Google Sheets Add-on, Excel Plugin, and several other plugins this year.
Partner at Begin Capital, Alex Menn, said, “The computing power and learning ability of software may fundamentally disrupt the role of experts. Various software applications will enable an average worker to replicate the skills of a professional. Actable AI is standing at the intersection of two beloved VC trends: the rise of new professions and AI no-code solutions.”
He further added that the Begin Capital team is delighted to assist the founders at this early stage of their firm, and they are very optimistic about the future prospects. Actable AI intends to democratize a wide range of analytics jobs, making them available to everyone, everywhere, rather than just data experts.
United Kingdom-based artificial intelligence company Actable AI was founded by Armen Poghosyan and Trung Huynh in 2020. The firm specializes in providing a cloud-based, no-code, powerful data analytics platform.
Actable AI’s platform enables millions of analysts to quickly clean and analyze their data using our cutting-edge AI and deep learning technologies without having to program.
CEO and Co-founder of Actable AI, Armen Poghosyan, said, “We are really excited about this funding as it will allow us to continue to grow and bring advanced analytics to companies all around the world. It will also help us to democratize the data science market, making it easier for SMEs and business professionals to use their data to tackle real-world issues.”