Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Software & SaaS
No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Jobs
  • Partner with us
  • About us
    • About
    • Contact
    • Newsletter
    • Team
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Jobs
  • Partner with us
  • About us
    • About
    • Contact
    • Newsletter
    • Team
No Result
View All Result
Silicon Canals
No Result
View All Result

Malta-based VAIOT combines AI and blockchain to digitise business processes; raises €5M in seed funding

Editorial team by Editorial team
September 18, 2020
in News, (Crowd)funding, Startups
0
Malta-based VAIOT combines AI and blockchain to digitise business processes; raises €5M in seed funding

VAOIT

38
SHARES
LinkedInTwitterWhatsAppFacebook

The rise of blockchain and artificial intelligence (AI) are two of the biggest technology trends this year. For us, our requests could include understanding the weather or finding out about a song, setting up for appointments, etc. However, I’m sure you already know that it powers innovation across almost every industry, and is yet capable of so much more.

Sale of VAI Tokens

In layman’s terms, Artificial Intelligence (AI) are machines built to perform intelligent tasks that have traditionally been accomplished by humans. As for Blockchain, it is essentially a technology that allows for the encrypted storage of data on a distributed ledger.

A Valletta-based startup, VAIOT, that combines AI and blockchain to digitise business processes across industries, has raised €5M in its seed round of funding through a private sale of its VAI Tokens.

VAIOT’s seed and private sale have allocated close to 30% of the VAI Tokens to investors who support the project long-term. VAI Token is the digital currency of the VAIOT platform, set to incentivise the users to utilise the company’s solutions. VAI Tokens will initially use the Ethereum token standard and eventually be mirrored on a proprietary blockchain.

Modus Operandi

VAIOT develops purpose-built Intelligent Virtual Assistants (IVA) to help companies to move processes to AI-powered channels, as well as VAIOT-labeled IVA delivered directly to consumers. It combines AI and blockchain to create new ways of digitally accessing services and securely concluding legal agreements.

Christoph Surgowt, CEO of VAIOT says, “With this funding, we are equipped to deliver a product that can transform how businesses conduct their processes, and be of tremendous value to consumers. Putting the competency of AI into the hands of businesses and consumers will boost digital transformation across the board.”

The startup ultimately plans to take the concept of a smart personal assistant and combine it with the unique skillset and knowledge possessed by lawyers. It aims to build an AI legal assistant for consumers and enterprises, providing legal services, including digital, blockchain-based contracts.

VAIOT’s first assistant will service the car insurance industry and is projected to be presented by Q3 2020. It also aims to expand its technology into the broader market. The solution is built to be customised and adjusted to suit almost any industry and a wide set of business processes.

Image credits: TippaPat/Shutterstock

close

Want to stay on top of the latest rounds, coolest tech and hottest startups?

Subscribe to our free, daily news blast and stay up-to-date!

Check your inbox or spam folder to confirm your subscription.

 - Partner content -
Future Hamburg Award 2021
Future Hamburg Award 2021
Call for startups with innovative solutions for the future cities from all over the globe.
Call for startups with innovative solutions for the future cities from all over the globe. Show Less
Read more
Tags: AInews
Share3Tweet10SendShare15

Featured events

Current Month

april

No Events

Partner content | Work with us

Amsterdam-based Lumicks raises €77.6M to provide instruments to reveal unique molecular, cellular interactions

Calling all European deep-tech scaleups: EIT Digital Challenge 2021 registration is now open

Amsterdam-based SaaS startup SwipeGuide raises €5M for international expansion; aims to double its staff in 2021

Innovation against climate change: what Blue Tulip Awards’ experts on Climate & Energy are looking for

Blue Tulip Awards’ experts of Finance & Prosperity: why COVID, regulations and digitisation boost innovation

Silicon Canals Jobs


Breaking news from Amsterdam | Partner

How to find your way in Amsterdam’s alternative funding jungle: An interview with Renée Andela of KplusV

Amsterdam’s test automation startup SEGRON raises funding; looks to increase workforce by 30% by 2021-end

After tripling its revenue in 2020, Amsterdam-based fashion e-commerce startup Otrium raises €102.3M

Amsterdam’s IoT spacetech startup Hiber raises €26M to expand the world’s first global IoT satellite network

  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy policy
  • Terms & Conditions Silicon Canals

Silicon Canals 2014-2020 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdam
  • Events
  • Jobs
  • Partner with us
  • About us
    • About
    • Contact
    • Newsletter
    • Team

Silicon Canals 2014-2020 | Website: Bright Idiots

X

This website uses cookies to ensure the best possible experience. We may share this information with our advertising and analytics partners. By clicking 'Accept', you agree to our use of cookies and similar technologies. More info