nettle.ai receives €1 million investment from Crowdberry

Slovak company nettle.ai, which is focused on solutions in the area of conversational technologies using artificial intelligence, received a significant investment in the volume of €1 million from Crowdberry investors and the Venture to Future Fund (VFF) investment fund. The company will use the investment for its further growth, marketing and completion of the product portfolio.

nettle.ai was established in 2018 and in a short pace of time became one of the top Central European firms working in the area of intelligent conversational solutions. Companies such as Eset, Samsung, 365.banka and Jaguar Land Rover use its AI in the form of virtual assistants (chatbots) in communication with customers. It is one of the few Central European companies to count itself among the partners of Google Business Messages, while it is also working with the technology giant on multiple solutions for the introduction of new SMS standards, known as RCS communication. nettle.ai is also a partner of the European Robotic Centre of the leading auditing and consulting company Mazars. The founder of nettle.ai, whose sales increased in the past year in spite of the recession caused by the pandemic, has big plans for it. The €1-million investment from Crowdberry investors and VFF will help the company with its further expansion into new markets and product development.

“We appreciate the confidence that these investors have shown in us and see the investment as a significant advancement in our development. We want to build on our competitive advantage, which is our own software; the ability to design and implement a functional chatbot tailored to the needs of the client; and our unique partnerships. Thanks to the investment, we will start looking at comprehensive vertically-oriented conversation interfaces that enable us to scale projects, in addition to the project deliveries of chatbots, mailbots and voicebots. A chatbot for a seller of automobiles and a chatbot for the collection of debts are some of the first such “boxed” products we have created,” says Andrej Greguš, one of the founders of nettle.ai.

“The dynamics of the market, which is driven by technological advances and automation, have also positively influenced the company’s development. Just the chatbot market alone is expected to see worldwide growth on a level of 30% (CAGR 2018 – 2025) and should reach a value of $15 billion [1]. This is where we see huge potential for the application of intelligent solutions like those nettle.ai develops and, thus, for an increase in the firm’s value,” states Michal Ondrišek, a Partner of Crowdberry.