Raffle in a $18 million funding round backed by K1 Investment Management and Vækstfonden.

Raffle, a Copenhagen, Denmark-based company developing an AI-based meta search engine, announced a series A funding round closed at $18 million.

The money was raised from investors including the Los Angeles, USA-based K1 Investment management and Vækstfonden.

The proceeds will be used for expansion into the European and US markets.

Raffle, founded in 2018 by Suzanne Lauritzen (CEO) and Ole Winther, developed an AI search tool for businesses aimed at helping companies with content located in different databases, each with their own search function. The company previously raised funding from Vækstfonden and PreSEED Ventures in 2020.