UK startup Customs Window Technologies secures €800K in funding to enhance customs compliance and streamline regulations with the help of Artificial Intelligence, targeting expansion in the UK.
Customs Compliance Brought into a New Dawn by AI:
Ireland’s Dublin-based RegTech startup, Customs Window Technologies, has secured €800K in seed funding. Additionally, €70 million in equity finance from private investors, along with the HPSU program from Enterprise Ireland, will help facilitate the firm’s expansion into the UK. Founded in 2022 by Brian Murphy and Johnny Dunne, Customs Window offers a platform that assists businesses in managing customs declarations, especially as Brexit and e-commerce heighten compliance demands.
Expanding into the UK Market:
The UK is one of the largest markets for Customs Window, as HM Revenue and Customs processed more than 91 million customs declarations in 2023. Moreover, the platform, designed for e-commerce and logistics players, leverages automation and AI, making it easier to navigate the customs landscape. Furthermore, new regulations expected in 2025 will enable businesses to automate declaration submissions via an open API, ensuring compliance effectively.
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AI solution from Custom Window tackles the increasing issue of complication in customs regulations, minimizing the time, cost, and risk that companies have to spend. The system was described by COO Brian Murphy as increasing efficiency while reducing leading-edge risks for international shipments as the system eliminates complexity in handling mission-critical data. As you know there are almost 54 million customs declarations in Ireland in 2023 recently after Brexit which depicts the desiring of the need for efficient customs compliance management.
Backed by Multinationals and Banking Industry Expertise:
As for the addition of advisor Mike Stalley, the founder of Fiscal Reps, Customs Window now has expert tips for expanding overseas. Another proof of the startup’s dedication to using AI in customs efficiency is University College Dublin’s AI Ecosystem Accelerator Programme, where the company participates.
Anne Lanigan from Enterprise Ireland compliments such a startup saying: “Customs Window is a perfect example of an Irish innovation solving some of the world’s big problems.”
Such funding places Customs Window on the right trajectory to becoming a leading solution for simplifying and demystifying customs regulation for businesses based in the UK.
