Iris.ai provides an AI engine for scientific text understanding through a comprehensive platform for research-related knowledge processing. Its RSpace solution offers smart search, smart filters, reading list analysis, auto-generated summaries, autonomous extraction, and systematizing of data. The company serves corporate R&D departments and university researchers to help unlock scientific insights beyond human capabilities alone. Co-founded by Anita Schjøll Abildgaard, Jacobo Elosua and AI researcher Victor Botev, Iris.ai is based in Oslo, Norway. It raised €7.64M in Series A funding to support continued growth and innovation in AI-assisted scientific research. The company intends to use the funds to contribute to a dynamic European AI ecosystem. Iris.ai builds an AI engine for scientific text understanding that categorizes, navigates, summarizes and systematizes data from academic papers, patents and other technical documents. The company says its technology is already used by hundreds of universities and companies to reduce the time spent manually reviewing research. The recent capital is aimed at making scientific research more actionable—accelerating research across fields, mapping the available literature, and broadening researchers’ domain understanding. Iris.ai’s CEO emphasizes that large language models today hallucinate and lack domain-specific factuality, and the company focuses on factuality validation and injection of externally validated knowledge to create a trustworthy system. The funding is positioned as a response to competition from US and Chinese AI developments and to strengthen a European AI/ML player. The backing is intended to support product development and broader deployment in research and industry.

Total raised

$24M

Funding rounds

3

Latest round

Series A

Latest activity

May 2024