November 12 (SeeNews) - Croatian software startup Mindsmiths said it has received a 1.2 million euro ($1.4 million) seed financing from local venture capital fund Feelsgood.
Thanks to this investment, Mindsmiths will further develop its artificial intelligence (AI) platform that enables all users to build their autonomous support systems with positive social effects, the startup said in a statement e-mailed to SeeNews.
Mislav Malenica, founder and CEO of Mindsmiths, said the investment is a very important step for the democratisation of access to AI technology. So far, Mindsmiths' AI platform has been used to build autonomous support systems in healthcare and banking.
"Feelsgood is the first Croatian venture capital fund for investments with social effect. We are proud that we have invested into Mindsmith. Since it creates technology that enables democratisation of knowledge, we expect along with profit to achieve improvement in the quality of life of a significant number of people," Renata Brkic, partner and member of the investment board of Feelsgood, said in the statement.
($= 0.873 euro)