Artificial intelligence startup baseH Technologies raises undisclosed seed level investment at $4 million valuation
BaseH, developers behind Dante, an automated content writer, has raised an undisclosed amount of investment for their seed funding stage from Elahi Group of Companies at a valuation of $4 million.
Talking during the ceremony held to celebrate this investment, the Federal Minister for Information Technology and Communication Khalid Maqbool Siddiqui said that Digital transformation of all functions, companies, communities, and economies is an inevitable consequence of 4th Industrial Wave Technologies. He acknowledged that Data is the new form of wealth and value. It is now being gathered at an unprecedented scale and it is important we develop tools to make sense of the mountains of data.
BaseH is an artificial intelligence startup which is working on technology to mainstream AI-based content writing. Dante, their AI writer, is at the moment capable of writing a market closing report provided a few key parameters. It is, however, being actively developed to be able to write football match reports, financials, weather reports, and general political news.
Dante, once fully developed, is expected to find its applications in both media and financial industry where long and tedious documents and reports are a critical part of daily operations. Dante is expected to cut the time it takes to formulate those documents and reduce overhead associated with content writing. A demo of how it works can be seen in the video below:
The CEO of EGC, Mr. Danish Elahi, said while talking about the investment:
“We have made an excellent choice in choosing baseH as a strategic investment opportunity for our group. This future unicorn with truly disruptive technology is at par with global standards and, in many ways, ahead of the industry making its way up to the 4IR.” He further said, “baseH Technologies caught our eye when it unveiled Dante – TheRoboJournalist – and became a global story overnight.”
The founders of BaseH are of the view that this is the perfect time for them to develop AI-based products that can empower any industry which has a data-rich environment and needs analysis tempered with real human sentiment. They are hoping that this investment (exact details of which are undisclosed at the moment) will help them push towards more rapid development of their AI content writer to meet the media and financial industry’s growing need for rapidly produced content.