A leading enterprise conversational AI startup, Moveo.AI raises $2.6 million to enhance its platform's capabilities and expand its global presence.

NEW MILFORD, NEW JERSEY, UNITED STATES, August 27, 2024 /EINPresswire.com/ -- Moveo.AI, an enterprise conversational AI startup, announces that it has raised $2.6 million in seed funding. Eleven Ventures led the seed round with Uni.Fund and Charge.vc participating and early backers who participated in the 2021 $400K Pre-Seed round doubling down on their initial investment.

While enterprises explore the latest advancements in Generative AI and seek automation beyond FAQs, Moveo.AI rises as the perfect blend of workflow automation and Generative AI. In a landscape where sophisticated AI-powered solutions are essential for maintaining operational efficiency and productivity without compromising data privacy and security, Moveo's proprietary LLMs deliver unmatched data protection and reliability. Moveo’s LLMs are fine-tuned for enhancing customer experience in business settings, surpassing third-party models like GPT-4 in latency, hallucination, and repetition, amongst other CX-related metrics.

Moveo.AI has experienced exponential growth in the last 12 months, increasing its customer base with enterprises such as Betano, Allianz, and Alpha Bank, doubling its revenue and tripling its team. Moveo.AI recently opened a branch in São Paulo to serve the booming LATAM market. As a result, Moveo.AI now serves over 10 million users every month in 89 countries, speaking 21 languages.

Furthermore, Moveo.AI's role in shaping the future of GenAI applications for FinTech was recognized through the highly prestigious first place in SE Europe and Israel during the Mastercard Fintech Forum and its selection for the exclusive Visa Innovation Program Europe.

“We are incredibly excited about this new round of funding, which marks a pivotal moment for Moveo.AI,” commented Panos Karagiannis, Moveo.AI’s CEO and co-founder. “With these new resources, we aim to enhance our platform's capabilities, expand our talented team, and broaden our reach into new markets. We look forward to forging new partnerships and continuing to innovate in the AI space, thus advancing our vision of revolutionizing enterprise AI solutions.”

"When it comes to the customer journey – from support issues to sales transactions – people are expecting instant, accurate, relevant, just-in-time interactions. This is something humans can no longer deliver. But AI can! We identified Moveo as a top contender to radically improve the way businesses interact with customers. Their impressive client roster, including big banks and retailers, speaks to their potential. We are excited to be part of the journey and contribute to this significant shift in customer engagement", commented Svetozar Georgiev, Partner at Eleven Ventures.

“Moveo stands out for its very strong technology team paired with the right business acumen, agility and execution capability necessary to thrive in a super volatile business landscape”, commented Sotiris Papantonopoulos, partner at Uni.Fund.

About Moveo.AI
Moveo.AI is developing a Customer Experience (CX) platform that uses Generative AI for enterprise needs. Its mission is to make complex AI technology accessible and straightforward, empowering enterprises to make the most of their data, scale their operations, and offer immersive customer experiences. With a presence in New York, Athens, and São Paulo, Moveo.AI's customer base consists of established enterprises like Viva, Edenred, Avis, Kaizen Gaming (Betano-Stoiximan), Allianz European Reliance, and Alpha Bank.

About Eleven Ventures
Eleven Ventures is one of the leading early-stage VCs in CEE, investing in startups since 2012. With 170+ collective investments over 12 years, the team has been instrumental in catalyzing the regional startup ecosystem. Eleven supports tech companies in four priority verticals: Fintech, Healthcare, Future of Work, and Sustainable Food. Some of the startups that Eleven has backed include the first Bulgarian unicorn Payhawk, Dronamics, Native Teams, and Nitropack.

About Uni.Fund
Uni.Fund supports the growth of successful ventures that address emerging market needs. Combining a strong entrepreneurial mindset with deep experience in setting up and growing a business, it aims to work side-by-side with teams for the whole journey. Uni.Fund’s portfolio, combining a special focus on deep tech with market innovation, includes companies such as FlexCar, Kinvent and ExitBee.

About Charge
Charge Ventures is a venture capital firm based in New York that specializes in early-stage tech ventures, partnering with exceptional founders from the very inception of their entrepreneurial journey. Its portfolio includes over 70 investments, featuring companies like Clay, Republic, and Bulletin.

Panagiota Gkotsi
Moveo.AI
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