Abzu raises €5 million in a seed round led by Seed Capital, Inventure, and PreSeed Ventures

Abzu, a Copenhagen, Denmark-based software startup developing a platform for automatic AI-based solutions, announced that it completed a €5 million ($6M) seed funding round.

The money was raised from investors led by the Denmark-based Seed Capital and PreSeed Ventures and Finland-based Inventure. Existing shareholder Vaekstfonden and angel investors whose name was not disclosed also contributed to the round.

Proceeds will be used to fuel ambitions to accelerate commercialization within pharmaceutical drug discovery and mature its AI platform for application in other industry verticals.

Abzu, founded in 2018 and led by CEO Casper Skern Wilstrup, developed a white label AI-based solution that is sold to pharmaceutical companies.

The tool is called the QLattice and is essentially a simulator that maps all possible paths, or relationships, within a dataset. The tool uses an algorithm to findthe simplest and most accurate mathematical solution to a specific problem, whether that’s revealing a causal relationship or predicting the next event, with clear justifications as to why.

The company works with cusomers from the pharma industry, as the QLattice is helping scientists quickly interpret and explain the relationships between treatments and their effects in clinical studies, ultimately helping to pave the way for personalized drugs.

Abzu previously raised about $3.3 million, in two rounds, one in 2018 and the other in 2019.