Machine-learning start-up, Futr., has received £2.4m in seed funding.
Led by Manchester’s Praetura Ventures, the investment is being used to accelerate the delivery of its products and to almost double its team.
Futr. provides chatbot technology, through its “conversation-as-a-service” systems. It already works with the police, central and local government and the private sector.
“Lee [Wilkins] and I founded Futr. because we believe that simple conversation is the ultimate user interface. We’re passionate about delivering universal access to products and services – where tech savviness, language, availability and channel shift are no longer barriers,” explained Andy Wilkins, CEO of Futr..
“We’ve built a lot of clever tech that makes this simplicity possible, but this is only the beginning. For the next part of our journey it was really important to find the right type of support for Futr. and so we’re delighted that Praetura Ventures and the other investors who share our vision have come onboard. With their experience and backing we’ll continue to deliver exceptional products and solve some of our customers’ most meaningful problems.”
The chatbot technology sector is forecast to be worth $15.7bn by 2024.
“Since we met Futr., we’ve been really impressed with how quickly their pipeline of opportunities has grown. The platform architecture gives Futr. a competitive advantage, meaning its leading developments in the rapidly expanding Conversation as a Service market,” said Guy Weaver, Director, Praetura.
“We believe chatbot technology is a high-growth area, and Futr. is in a great position to take advantage of the increased demand.”
