Silico, a London, UK-based AI-powered decision making platform provider, raised £3.4M in Seed funding.
The round was led by Join Capital with participation from Forward Partners and unnamed angels. As part of the terms of the seed round, Join Capital’s Sebastian Von Ribbentrop will take a seat on Silico’s Board of Directors.
The company intends to use the funds to build out its core engineering team, deliver an enhanced AI recommendation function, boosting the capabilities and range of the product, and expand its reach across Europe.
Led by CEO John Hill, Silico is a provider of Decision Making software that enables businesses to create digital twins of any business or process quickly, and to simulate forwards in time. Silico empowers organizations to continuously
test the impact of different outcomes in a ‘risk-free’ simulation environment before they make changes in the real world. The AI-powered, no-code platform is often used to support businesses through digital or change transformations or to streamline financial planning, demand forecasting and margin optimisation. The software connects to a range of Enterprise data sources, provides analysts with a proprietary no-code visual modelling framework and delivers digestible insights to decision makers.
The company is already working with global enterprises across the banking, telecoms, healthcare and chemicals industries, with clients such as Vodafone.
FinSMEs
03/03/2022