4Semantics, a Bialystok-based startup that specializes in building cognitive automation solutions and productivity tools, has raised investment to expand into new markets and grow its technology. The amount of the deal is undisclosed.
- 4Semantics was established in 2018 by Tomasz Rzezniczak. The startup develops document understanding and UI understanding technologies. Its solutions include SensID Cognitive Automation, which speeds up document processing, and Cognitive Hand, which completes tasks in a variety of business apps while saving up to an hour a day on administrative tasks.
- The startup is partnering with various companies, including Willow, Tuatara, Fintin, nFlo, and Integrated Solutions. Its solution can be used in industries such as finances, e-commerce, and logistics.
Details of the deal
- Luxembourg-based venture capital firm Full Speed Ventures has led the investment, marking it as the first round from a €50 million fund raised in February. The firm invests in tech startups from Central and Eastern Europe, with a particular focus on Polish founders. Ticket sizes range from €1 million to €10 million.
- The current funding will help 4Semantics increase operational activities and enhance its AI-based SensID platform to improve speed and efficiency and satisfy growing client demands.
“We have always had very ambitious plans, both for the best technologies in the field of IDP (intelligent document processing) and AI-based automation, as well as business plans for expansion into new markets. The technology is ready and has been successfully used by our clients; now it’s time for us to grow,” 4Semantics’ team stated on LinkedIn.
