Iris.ai, founded 2015, is an Artificial Intelligence tool which helps researchers in industry and academia to find the scientific knowledge they need. It semi-automates the often tedious process of finding relevant scientific literature. Today this is a painstaking manual process prone to error, and Iris.ai is reducing the time to do this with 90% – while also increasing the precision of the results.
Founded at Singularity University in 2015, Iris.ai now has home bases in Oslo, Berlin, and Sofia, and its team of 12 people is growing fast. Founders Anita Schøll Brede, Maria Ritola, Victor Botev and Jacobo Elosua come from Norway, Finland, Bulgaria/Sweden and Spain. The company’s business model is delivering the software to larger companies’ R&D departments, and they work with several global brands including large energy, aerospace engineering, pharma and forestry companies. They have found an initial solid interest in the material science space.
Next Nordic Tech Superstar Announces New Tokenization System, Doubling Of Revenue
Iris.ai had some big news to announce at Founder Stage on Friday. Closing their seed round, they have raised $2M from Nordic Impact, INDEX: Design to improve life, Bakken & Baeck Invest and a number of Scandinavian angel investors. They have also doubled their revenue every quarter this in 2017, and they’re currently at capacity for new clients until closer to Q2 2018.
“We have talked to a lot of VC’s over the past couple of years, and we are very excited that we have the team behind Nordic Impact join our journey. We share a very similar mindset, we see the world in the same light and we agree that making a profit is great but that it’s really the positive impact of what we can build that truly matters”, Anita Schjøll Brede says. “We want to get to a point where any driven individual with a big problem to solve can collaborate with our AI researcher to quickly establish what interdisciplinary solutions already exist, and what still needs to be discovered. Our human brains can only hold so much information – we need a machine to collaborate with us on this!”
The company has always had a close eye on their community. They are offering an entirely free version of the exploration tool to individual researchers across the world, and through this have recruited an AI Trainer community of more than 8000 individuals who are helping train the tool. They see a strong value in this community and aim to spend more time and resources building this out, now that the financing is in place.
This strong affiliation with the community is very visible in the exciting announcement made on Founder Stage on Friday. Iris.ai has spent two years building a system that helps people map out existing scientific knowledge in 90% less time than is possible currently. However, they also consider transparency and openness their key values, and want to do more beyond working with merely revenue-driven, large corporations. Which is exactly why they are launching a new concept involving tokens: anyone contributing to the development of Iris.ai’s tools is rewarded with tokens which can be redeemed to use any and all of their core services.
The Future of Science Should Be Transparent, Open and Accessible. The tools Iris.ai are offering are the first in a row to build first a Knowledge Validation Engine – a tool where you can check your hypothesis or argument up against all of the world’s research and eventually a fully fledged AI researcher which will build and test new knowledge. Iris.ai is on its way to transform from Science Assistant to fully-fledged, curious Scientist – and we can’t wait to see the impact Iris.ai will have on the scientific community – and beyond. Science – like entrepreneurship – belongs to everyone.