RUTILEA, a provider of zero-code AI products under the slogan 'AI made easy', is pleased to announce that it has raised approximately JPY 300 million in a Series C1 round in August 2023. The round was led by lead investor Abies Ventures, existing investor Monozukuri Ventures and several other private investors. This brings the cumulative amount raised to date to approximately JPY 900 million.
An additional round of funding is planned for late September 2023 as a Series C extension round. In October of the same year, a loan of approximately 200 million yen is scheduled to be provided by a financial institution, bringing the total amount of funding raised, including the extension round and the loan, to approximately 800 million yen.
About the Business
Since its founding in 2018, the company has been working on providing AI products that contribute to improving labour productivity by making highly accurate AI ready for use; solving the problem of insufficient data, which is a barrier in the AI implementation process, with generative AI and an underlying model; and simplifying the complexity of the implementation process through zero coding. The complexity of the implementation process is simplified through zero-coding.
Use of Funds Raised
The funds will be used to invest in new businesses, research and develop products, build a sustainable revenue model, hire more sales staff and engineers, and thoroughly focus on strengthening profitability.