Vaiot to raise €5m in seed funding

Vaiot, a La Valletta, Malta-based developer of AI-powered digital services for businesses and consumers, announced that it secured €5 million ($5.9M) in seed funding.

The deal was announced in conjunction with a private sale of its VAI Tokens.

Vaiot, founded in 2018 and led by CEO Christoph Surgowt, aims to digitize business processes by combining blockchain technology with Artificial Intelligence (AI). The company develops purpose-built  Intelligent Virtual Assistants (IVA) that allow companies to move processes to AI-powered channels, as well as VAIOT-labeled intelligent virtual assistants delivered directly to consumers. 

Its first assistant will service the car insurance industry and is projected to be presented by Q3 2020, but the company aims to expand its technology into the broader market. The solution is built to be customized and adjusted to suit almost any industry and a wide set of business processes.