Soffos, an AI-powered learning and development platform for businesses, has raised $750,000 from Venture Capital firm Sea and Sand Foundation.
The latest raise is part of the pre-seed funding round, led by Toronto-based Sea and Sand Foundation, which the company is looking to close by the end of August 2020 and currently in advanced talks with other investors, according to reports. It is said that with the lead investor secured, almost half of the target raise has now been committed.
Founded in 2018, Soffos is disrupting the corporate L&D space by providing sophisticated learning and development solution for businesses. It is an AI-driven KnowledgeBot which will provide high-quality, hyper-personalized training to employees. Soffos’ natural language spoken conversational Q&A ensures approved knowledge transfer with accurate, succinct, and approved answers to employees’ questions, anytime, anywhere.
Soffos is a portfolio company of Fountech.Ventures, which acts as an incubator, accelerator and investor for deep tech and AI startups. The Texas-headquartered startup said the latest funding will help develop its Beta version, which will launch later this year.
Commenting on the funding, Nikolas Kairinos, Founder and CEO, Soffos, said,
“The Sea and Sand Foundation’s support will be instrumental in helping bring Soffos to market. The funding will be directed towards building and refining the Beta model, which will launch later this year. What’s more, we look forward to having Stergios’ expertise to help make Soffos a big success. We are confident that the world’s first AI-powered KnowledgeBot will prove hugely valuable for businesses and professionals around the world.”
As part of the investment, Stergios Anastasiadis, an angel investor and founder of the Sea and Sand Foundation, will join the Soffos board.
Speaking about the VC firm’s interest and the need for digital transformation in employee training space, Stergios Anastasiadis said,
“At the Sea and Sand Foundation, we are also drawn towards businesses that solve business problems by using disruptive technologies. Employee training has traditionally been a resource-intensive operation; it is an area in desperate need of digital transformation. Soffos provides a whole new way of delivering L&D, ensuring employees can continuously improve their skills and knowledge. We look forward to supporting the launch of this next-generation AI solution across the corporate sector and lifting this heavy burden.”
Soffos has raised a total funding of $1.1 million to date. The startup has last raised about $360,000 from Fountech.ai in January 2018, according to Crunchbase.