Czech artificial intelligence startup Rossum raises 100M USD

Published: 20.10.2021 Related countries:  U.S.A. U.S.A.

The series A is the third largest investment in the history of the Czech startup funding.

Rossum, the automated document processing platform has raised 100 million USD in a series A round of funding by General Catalyst, LocalGlobe, Seedcamp, Miton and Elad Gil. According to the sources the company is now valued at somewhere between 500 million USD and 1 billion USD. This means it is aspiring to become a new Czech unicorn. 

Founded in Prague in 2017 by three artificial intelligence students Petr Baudis, Tomas Gogar and Tomas Tunys, Rossum uses the deep learning to automate manual document processing and data entry. The recent investment will be used to increase the support for various industries and use-cases, such as finance, logistics, insurance, order management, and others. Rossum also plans to open new hubs in the US, Europe, and Asia, and to build a research center in Prague.

Source: Venturebeat.com

Prepared by the team of Czechtrade office in San Francisco.