Moveo.AI, a pioneering startup in enterprise conversational AI based in Greece, Sao Paulo, and New York, has successfully raised over €2.3 million in seed funding to accelerate its mission of providing businesses with secure, private, and personalized large language model (LLM) agents. The funding round was led by Eleven Ventures, with participation from Uni.Fund and Charge.vc. Early investors who supported Moveo.AI during its $400K pre-seed round in 2021 also reaffirmed their confidence in the company by doubling down on their investments.
Moveo.AI’s innovative approach to combining Generative AI with workflow automation has positioned it as a leader in the enterprise AI space. As businesses increasingly seek to leverage the latest advancements in AI to enhance customer experiences and streamline operations, Moveo.AI’s proprietary LLMs stand out for their unmatched data protection, reliability, and performance. These LLMs are specifically fine-tuned to excel in customer experience (CX) metrics, surpassing third-party models like GPT-4 in key areas such as latency, hallucination, and repetition.
In the past year, Moveo.AI has experienced remarkable growth, doubling its revenue, tripling its team, and expanding its customer base to include prominent enterprises such as Betano, Allianz, and Alpha Bank. The company has also extended its reach to the LATAM market with the opening of a new branch in São Paulo, serving over 10 million users monthly across 89 countries in 21 languages.
Moveo.AI’s impact on the future of Generative AI applications in the FinTech sector has been recognized through several accolades, including first place in SE Europe and Israel at the Mastercard Fintech Forum and selection for the exclusive Visa Innovation Program Europe.
The newly secured funds will enable Moveo.AI to further enhance its platform capabilities and proprietary LLMs, with a focus on delivering private and personalized AI agents that enterprises can trust. Additionally, the investment will support the continued growth of Moveo.AI’s team, particularly in research and development, as the company sets its sights on further international expansion in 2024, targeting key markets in the Americas. This expansion strategy will involve scaling business teams and forming strategic partnerships to strengthen the company’s regional presence.
Panos Karagiannis, CEO and co-founder of Moveo.AI stated: “This investment marks a pivotal moment for Moveo.AI. It validates our team’s hard work and dedication and reinforces our mission to provide enterprises with secure, personalized LLM solutions they can rely on. With these new resources, we aim to enhance our platform’s capabilities, expand our talented team, and broaden our reach into new markets. We look forward to forging new partnerships and continuing to innovate in the AI space, advancing our vision of revolutionizing enterprise AI solutions.”
Svetozar Georgiev, Partner at Eleven Ventures said: “In today’s world, customers expect instant, accurate, and relevant interactions throughout their journey, from support issues to sales transactions. This is a demand that AI can fulfil far better than humans. We identified Moveo.AI as a top contender to radically improve how businesses interact with customers. Their impressive client roster, including major banks and retailers, speaks to their potential. We are excited to be part of this journey and contribute to this significant shift in customer engagement.”
With this fresh injection of capital, Moveo.AI is well-positioned to continue its rapid growth and solidify its status as a leader in the enterprise AI landscape, delivering innovative solutions that help businesses thrive in an increasingly automated and AI-driven world.
