ExB Labs GmbH has completed a €9.5 million financing round. The AI company, founded by Dr. Ramin Assadollahi, specializes in the development of self-learning software platforms for use in various key industries.
The Munich-based company’s financing partners include lead investor Alstin Capital (Alstin II Fonds GmbH & Co. KG) and Bavaria Capital with the Bavarian Growth Fund.
ExB Labs develops self-learning software for the high-quality analysis of unstructured and semi-structured text and image data, even in the largest data volumes. The core of the product is the license-based ExB product. Cognitive Workbench, which enables data analysis both web- and cloud-based as well as embedded, e.g. integrated in the vehicle or on mobile devices.
To date, ExB’s software solutions have been used primarily in the automotive, finance and health sectors.
Focus on finance and automotive
Lukas Bennemann, the Investment Director at Alstin Capital responsible for this financing round, says:
"The topic of artificial intelligence, in all its forms, is a top priority for Alstin Capital. With ExB, we have the unique opportunity to invest in an already industry-validated AI platform technology in Germany and to bring it into global application."
ExB Labs Founder and CEO Dr. Ramin Assadollahi about financing:
"The investment enables us to offer our platform technology, which has already proven its performance in a wide range of industrial applications and AI projects, to a large number of companies as scalable products under a licensing model. The funding will primarily flow into ExB's Finance and Automotive divisions."
