Finnish startup Inven, an AI-powered market research tool has raised €1.5M to bring cutting-edge AI to the M&A industry. Now, the company founded by a group of young entrepreneurs has plans to expand its operations.
Being in the know makes all the difference in the fast-paced world of the finance sector, particularly in the cutthroat world of M&A. Even though time is important in this market, time-consuming manual research and analysis are still necessary.
Inven, a Finnish company, has recently received seed financing of €1.5M which made it the largest seed round ever raised in Finland by founders under 25. Moreover, the company aims to challenge the status quo by utilizing the strength of contemporary NLP and AI models.
Lifeline Ventures was the financier in charge.
“We’re on a mission to provide the most intelligent and user-friendly tool to find and analyze companies,” says Tommi Kupiainen. Additionally, We are grateful for the support of our investors and customers. Moreover, we are enthusiastic about the potential effect our software can have on the M&A industry.”
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Inven used AI and NLP technology to automate laborious M&A tasks. This allows professionals to focus on more critical work by freeing up their time.
It was founded by three young business minds who had direct knowledge of the difficulties associated with these time-consuming analysis tasks: Ekku Jokinen, Niilo Pirttijärvi, and Tommi Kupiainen. The trio was tasked with finding a solution for this and disrupting the market. Additionally, They developed software that can analyze millions of websites and organize unstructured business data, making it readily available to M&A professionals.
According to Jukka Heikka, Partner at Joint Effects:
“Inven’s AI-powered market research tool is a game changer for the $25 billion+ global M&A advisory business. Investment bankers, consultants, and analysts can gain an advantage in the quickly evolving M&A environment with Inven’s help. They provide a quick and effective solution to the real issue of manual research.”
With the money, Inven will expand its staff and advance client acquisition. Inven has already launched the initial version of its software, and the company is presently working together with users to actively develop it further.
According to Lifeline Ventures’ founding partner Petteri Koponen, “We are excited to support Inven as they work towards realizing their vision for the future of the financial sector. We are confident in their ability to have an effect because of their distinctive approach and aspirational team.”
