Texelio has raised SEK 5.5 million from Wellstreet and angel investors from Sweden.

Texelio, a Stockholm, Sweden-based software startup developing an analysis tool of stock market news, announced that it raised SEK 5.5 million ($640k) in capital funding.

The money was raised from investors from Sweden and the UK, including UK-based TrueSight Ventures and Swedish Wellstreet Ventures, and angels Fredrik Posse (founder of Soundtrap, which was acquired by Spotify), Fredrik Månsson (Kivest AB also a major investor in Nextory), Markus Lagerlöf (Stockholm Corp Finance)

Texelio, founded in 2015 by CEO Meysam Sadegh, is developing AI-powered language models, transforming unstructured news content into portfolio newsletters, data feed APIs, newsfeed visualization and end-user analytics. The tool is used to refine and adapt various stock market news data, tailored to its various end users. The technology is primarily aimed at marketplaces for equities and mutual funds such as Avanza and Nordnet or Interactive Brokers.

The company also manages a spinoff product called Noteful AI, which was incubated at Sting.