Tucan.ai receives Pro FIT funding of 712,000 euros

Tucan.ai receives Pro FIT funding for its specialized AI tools for analyzing sensitive data in companies and public institutions

Berlin, September 3, 2024 - The Berlin-based startup Tucan.ai has received Pro FIT funding from Investitionsbank Berlin (IBB) in the amount of around 712,000 euros. The funding supports the company in the further development of its AI solutions for analyzing large amounts of data in companies and public institutions with high data protection requirements. Around 340,000 euros of the total funding comes from the European Regional Development Fund (ERDF).

Funding for innovative AI solutions

Tucan.ai develops specialized AI tools that archive large volumes of sensitive call notes and information in a structured manner and make them usable for analyses. "The Pro FIT funding gives us a tailwind and is an important building block for Berlin as an AI location," says Lukas Rintelen, Co-Founder and Co-CEO of Tucan.ai. The IBB funding is intended to support the research and development of new technologies in the region.

Application in sensitive industries

Tucan.ai's technology is primarily aimed at industries that require maximum precision and data security, including legal departments, law firms, market research and public administration.

Our AI can break down large amounts of data, such as extensive contracts, into smaller content packages and thus provide more precise answers than other models

Michael Schramm, co-founder and CTO of Tucan.ai

The start-up was founded in Berlin in 2019 by Lukas Rintelen, Florian Polak and Michael Schramm. The project is based on the integration of large language models (LLMs) and advanced speech recognition technology. A key requirement is that the AI makes its answers completely transparent and comprehensible by displaying the underlying text passages. Another goal is the seamless integration of the new technology into Tucan.ai's existing enterprise solution.

About the Pro FIT grant

IBB's Pro FIT funding aims to support technology-oriented companies in Berlin in the implementation of research and development projects. The funding is co-financed proportionately by the EU and is aimed in particular at companies in the early stages of product development. It can be used for project-related expenses such as personnel, materials and external services.