Tech
Centuro Global becomes the latest AI startup to tap up investors in 2023. Check out the 16-slide pitch deck it used to raise $4 million.
Centuro Global
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- AI startup Centuro Global just raised $4.1 million in fresh funds.
- The London-based company is among a raft of AI startups to lure cash from investors in 2023.
- Check out the 16-slide pitch deck it used to raise the capital from Mercia Asset Management.
A startup that uses AI to help businesses expand into new markets by tackling complex issues like tax and local regulations has raised $4.1 million in fresh funds.
London-based Centuro Global, founded in 2018, wants to make an array of time-consuming tasks associated with expansion – often outsourced to consultants – much easier to complete.
The startup’s platform consists of information on how to comply with legal foundations in different countries and uses AI to better understand what questions its users are asking about expanding into various markets, and accordingly tailors its responses.
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“We help companies plan, launch, and operate anywhere in the world,” said CEO Zain Ali. “That means complying with local regulations — those services where you’d typically have to go to multiple people.”
Centuro Global is the latest in a line of AI startups to raise capital in Europe since the advent of ChatGPT-3 in November. Early-stage AI startups are getting traction on the continent, with the likes of ElevenLabs, Teton.ai, and DeepRender all raising rounds this year.
“When most people expand to a new country, they don’t think of global expansion as an industry — there’s so much from tax, legal, to IP that has local regulations that need to be abided by,” Ali said.
Centuro Global works with enterprises and scaleups, as they are geared to expand quickly into new markets.
“A lot of startups scale without complying, and they have to pay fines. What we’re trying to say is: ‘You can move quickly and operate in a compliant manner,'” Ali added.
The startup makes its money through two revenue models; it has a subscription service for its SaaS model, and it also charges for individual services that clients want to use through the platform.
The round was led by Mercia Asset Management, a UK-based venture capital firm that has previously backed the likes of software and robotics unicorn Blue Prism and virtual reality startup nDreams.
With the fresh funding, Centuro will aim to make a suite of tools around various compliance sectors such as immigration and tax, akin to HubSpot, and grow its marketing team.
Check out the 16-slide deck used to secure the fresh funding.
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