Tucan.ai raises seven-figure sum

Among the investors is Telefonica's Innovation Lab, which will also become a customer of Tucan.ai. Together with other investors, Wayra invests a seven-figure sum.

Tucan.ai raises a seven-figure sum, which comes from IBB Ventures, the investor network Faraday Venture Partners as well as Wayra Germany. APX is also on board, the early-stage investor of Porsche and Axel Springer has been supporting Tuncan.ai, founded in 2019, since the beginning. Wayra is the innovation lab of the telecommunications company Telefonica and enables Tucan.ai to win the company as a customer. The Berliners have developed an AI that records and transcribes meetings and summarizes them.

This also convinced the investors: "Tucan.ai has the potential to revolutionize the meeting culture in companies with its software: With this, we can help shape the way we work tomorrow - more productivity with the same number of working hours per week," says Florian Bogenschütz, who is CEO of Wayra Germany. According to the start-up, this also enables companies to introduce a four-day week because time is saved. "The situation today is ironic," says co-founder Florian Polak. "Despite technological advances, we're increasingly wasting energy and productivity in more and more meetings."

During the Corona pandemic, digital meetings have proliferated, Tucan.ai's offering meets a need for businesses, "Video conferencing has grown exponentially, but our meetings still haven't become more efficient. We strongly believe that Tucan.ai has found a way to address these issues," Dennis Kirpensteijn from Faraday explains the investment.