Deeptech Natif.ai receives five million euros

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

The Saarbrücken-based deeptech 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 startup. They thus complement 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 startup in 2019 as a spin-off of the German Research Center for Artificial Intelligence (DFKI). The founders have developed a deep OCR, or 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 make it possible to process documents 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, for example.

"Natif.ai will be the new market standard in document processing and text recognition. In doing so, we will not shy away from comparison with companies such as Google or Abbyy," says co-founder Johannes Korves. The start-up plans to use the new capital to drive its expansion and tap into international markets.