Factiverse completes a funding round of NOK 7 million.

Factiverse, a Stavanger, Norway-based startup working on a software tool used for detecting fake news, announced the completion of funding totalling NOK 7M.

The money is a combination of a NOK 2M grant provided by Innovasjon Norge and NOK 5M ($600k) equity raised from local investors from Norway, including Murshid M. Ali, Petter Berge, David Baum, Startuplab and Valide Invest.

Factiverse was founded based on a research project at University of Stavanger by Vinay Setty, who developed a deep neural network model to detect fake news.

The company, which is led by CEO Maria Amelie, is working for bulding a business by selling their technology on a SAAS fact-checking-as-a-service model, as well as making it available via a browser plugin and as an intelligent editor product.