London-based startup Gradient Labs, which is developing AI agents for regulated businesses with a particular focus on fintech and financial services, has raised $13 million in Series A funding. The round brought its valuation to $60 million, according to Sifted.
- Founded in 2023 by early Monzo employees Dimitri Masin, Neal Lathia, and Danai Antoniou, Gradient Labs builds autonomous AI agents for handling customer service queries for enterprise clients.
- Its chatbots are designed to help companies scale customer experience operations efficiently with minimal human involvement.
- Gradient Labs' customer base already includes some of the biggest names in the UK fintech scene, such as Plum, Zego, and Yonder.
- In August 2024, the company closed a $3.8 million seed round led by LocalGlobe, which allowed it to grow its engineering team and prepare for the Series A raise.
- The new round was led by US venture capital firm Redpoint Ventures, with participation from existing investor LocalGlobe and new backers Puzzle Ventures, Liquid 2 Ventures, and Exceptional Capital.
- The funds will be used to support US expansion and further team growth.
