Dutch startup Send AI secures a funding of $2.39 million from investors Google and Keen Venture Partners.

Dutch startup Send AI Inc. has secured €2.2 million ($2.39 million) in funding from Gradient Ventures LLC, Google's AI fund, and Keen Venture Partners LP. The capital infusion aims to accelerate the development of Send AI's AI models and support its expansion into global markets. Founded in 2021 as Autopilot, Send AI specializes in technology that automates document reading and extraction of key information, excelling in handling complex documents like low-quality scans and lengthy PDFs.

Unlike other AI businesses, Send AI distinguishes itself by opting for smaller open-source models instead of large, generic ones like OpenAI's ChatGPT. This approach enables high precision in data extraction while keeping sensitive customer data on its own premises. The decision aligns with increasing concerns about data privacy and security. By allowing users to train their own models and keeping data in-house, Send AI offers a more secure and customizable solution for businesses.

The versatility of Send AI's platform spans various industries, with initial adoption by health insurers for processing large volumes of claim documents. In sectors such as insurance, healthcare, and legal services, Send AI's technology streamlines document processing and analysis by accurately extracting relevant data points for integration into appropriate systems.

The funding from Google, channeled through Gradient Ventures, represents a significant endorsement for the Dutch startup. Send AI expressed the decision to seek funding in Silicon Valley to meet growing demand. Gradient Ventures, founded by Google in 2017, focuses on supporting early-stage AI and machine learning startups, providing not only funding but also technical resources, access to experts, AI boot camps, and mentorships.