Deeptech Natif.ai receives five million euros

Freeing employees from paperwork: This is what the start-up wants to achieve with its artificial intelligence. Now several investors are getting on board.

The Saarbrücken-based deep tech Natif.ai has received funding of five million euros in a seed round. The round is led by early-stage investor Redalpine. F-LOG Ventures and business angel Phillipp Rechberg are also investing in the start-up. They join existing investors 468 Capital, High-Tech Gründerfonds (HTGF) and Premius, who are also investing in this round.

Korves, Manuel Zapp, Christophe Hocquet and Berenger Laurent founded the start-up in 2019 as a spin-off of the German Research Center for Artificial Intelligence (DFKI). The founders have developed deep OCR, i.e. automatic and self-learning text recognition. This is capable of extracting key information from texts. It can also read handwriting.

The technology is said to enable documents to be processed 30 to 60 times faster than with conventional technologies. According to the company, the platform already processes millions of documents such as letters, invoices and receipts every month. The company's customers include banks, law firms and insurance companies.

"Natif.ai will be the new market standard in the field of document processing and text recognition. We are not afraid of comparison with companies such as Google or Abbyy," says co-founder Johannes Korves. The start-up intends to use the new capital to drive forward its expansion and open up international markets.