The AI Start-Up Secures Funding for 2021 Growth Push TextVibes, the leading AI platform for social media conversations.
TextVibes (AI start-up), based in London, managed to secure a pre-seed investment of £190K from SFC Capital to scale and expand globally.
The three founders launched their app in beta at the beginning of 2020 with the aim of enabling people to feel more connected during the Covid-19 pandemic. The app, leveraging the power of AI, helps users find and rediscover the most meaningful text conversations from their WhatsApp, Messenger and Instagram chat history. In the space of one year, TextVibes has already backed up and organised over 650 million messages from users worldwide.
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The funding will be used to enhance the product by making the app more scalable and improving the AI technology in the backend. Additionally, a budget has been set aside to transform this successful product into an exceptional brand.
The CEO of TextVibes – Federico Allegro – added, ‘We’re delighted to have the backing from such a renowned institution, especially considering the immense competition we were up against during the funding rounds’. Ed Stevenson, Investment Executive, from SFC Capital added, ‘While there are many emerging tools that focus on reminding people of the memories they have made, by showing them photographs from their gallery, there are not any that are focusing on memories that can be salvaged from digital conversations and messaging apps’. ‘The disruptive AI technology TextVibes has built along with the credentials of the team, made our decision of getting involved very easy. We are eager to see where TextVibes goes and look forward to working with them further’.
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