AI startup Noxus has raised £1.2m in pre-seed funding.
The London-based firm says it is helping enterprises build their own AI workforces to unlock business-changing productivity, innovation and growth.
The funding, led by SFC Capital, will help further develop and scale Noxus’ platform and expand operations.
Noxus’ platform lets large enterprises rapidly deploy AI across their organisations without having to build from scratch.
With its AI operating system, it says enterprises can build teams of AI ‘co-workers’ to handle repetitive tasks and complex workflows.
These AI colleagues work alongside, and under the guidance of humans, to help businesses scale their teams.
“While industry frontrunners like Klarna have embraced AI ‘co-workers’ to supercharge efficiency, productivity, and even raise overall compensation, the vast majority of European businesses – particularly the 99% that don’t consider themselves tech companies – continue to struggle with tapping into the transformative potential of AI-driven workforces,” said João Pedro, co-founder and CEO of Noxus.
“Ultimately, our mission is to help close Europe’s productivity gap so organizations of all shapes and sizes can thrive in an increasingly competitive global landscape.”
Research has found that workers across Europe waste nearly two days a week on tasks that could be automated, costing £271.6bn annually. Yet despite AI’s potential to close the gap, Europe’s biggest companies are struggling to integrate the technology, due to the sheer scale of processes, a lack of in-house skills, security and compliance fears, and not knowing where to start. As a result, European companies are losing time, money, and competitive ground compared to the US, where AI usage is accelerating.
One leading healthcare provider in Europe has saved 700 hours a month with Noxus AI-Coworkers by automating a large part of its customer complaints and prescription analysis functions.
Noxus was also recently selected for the Google Growth Program in the UK.
Vegard Medbo, COO at Antler, a participating investor, added: “Noxus is addressing a crucial challenge for large enterprises: implementing AI in production to achieve meaningful productivity gains without the usual complexity or risks.
“We’re proud to back João, Jorge, and their team as they enable organizations to seamlessly integrate AI into their operations and unlock its transformative potential.”
£82.6m to fund AI tackling cancer & other incurable diseases