Exabel, an Oslo, Norway-based London, UK-based AI, analytics and data platform for active asset managers, closed its third seed round, bringing the total amount raised to more than $12m.
The round was led by 17 existing and 11 new investors, alongside a loan and grant from Innovation Norway.
The company intends to use the funds to build out its commercial functions in Europe and North America, and continue to establish strategic partnerships with data vendors.
Led by CEO Neil Chapman, Exabel is an analytics platform for any investment professional who wants to benefit from alternative data and modern data science tools in their investment process. Founded in 2016, with offices in Oslo and London, Exabel now has a range of buy-side and sell-side clients across Europe, including DNB Asset Management, one of the largest asset managers in the Nordic region, Folketrygdfondet, the largest institutional investor on the Oslo Stock Exchange, Arctic Fund Management and hedge fund Iguana Investments.