Natif announced backing from 468 Capital in a fresh capital round.

Natif ai, a Saarbrücken, Germany-based SAAS developer of an intelligent document process automation (IDP), announced that it closed a capital raise round.

Financial details were not disclosed. The money was secured from German early stage investor 468 Capital.

Proceeds will be used to further improve the product with various models based on artificial intelligence (AI), and add financial and contract documents as well as insurance policies to its product portfolio within 2021.

Natif.ai, founded in 2019 as a spin-off of the German Research Institute for Artificial Intelligence (DFKI) by Christophe Hocquet, Johannes Korves and Manuel Zapp, developed an OCR (optical character recognition) tool that can be used for scanning and analyzing a wide variety of documents extremely quickly and precisely. Thanks to high-performance AI models and a self-developed Deep-OCR, a wide variety of documents can be analyzed extremely quick, accurate and relevant data is extracted.

Natif ai previously raised money from High-Tech Gründerfonds back in 2020.