Mavenoid raises $1.9M in a seed round led by Point Nine Capital.

Sweden Investments 12 October 2018
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Mavenoid, a Stockholm, Sweden-based startup working on SAAS tool automating technical support through a virtual agent, announced securing $1.9M in a seed investment round.

The funding was led by German venture company Point Nine Capital and included the Swedish VC Creandum as well as angel investors Erik Byrenius, Andreas Ehn, Leo Giertz, Alfred Ruth, and Jeremy Yap.

With the funding secured, Mavenoid is hiring technical and non-technical roles to make its platform self-serve, and expand outside of the Nordics 

Mavenoid, founded in 2016 by CEO Shahan Lilja and CTO Gintautas Miliauskas, developed a virtual agent for troubleshooting based on a technology built on top of years of research conducted by RISE SICS in close collaboration with the Swedish Armed Forces to help mechanics repair tanks and terrain vehicles. Their algo combines human knowledge with machine learning & human observations with machine readings to amplify the work of support engineers.

Mavenoid works with customers including Scania, Alfa Laval and Nokia, and had sales of SEK 1.3M in 2017 ($150k).