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Euro 2 million capital for Berliners Start-up fyrfeed





 

Berlin Tech start-up fyrfeed has received 2 million euros from investors as part of a seed financing round, in order to radically simplify the creation of articles for social networks and blogs by means of artificial intelligence. The financing round is managed by VC Born2Grow and supported by IBB Ventures and Austrian primeCROWD. With the investment, the start-up is planning to develop its AI solution and to further increase the degree of automation.

Companies require, on average, around two hours to turn out an informative article for social networks, and many times over if it is a blog post. Researching the topics, writing the article, creating a suitable image, publication at the right time, all this is time-consuming and expensive: Traditional agencies charge several thousand euros per month for this, and it is not unusual for several months to pass from instruction to the appearance of regular posts.

Content for B2B companies on autopilot

fyrfeed solves the problem of time and costs and assists B2B companies in covering their content need with just a few clicks. Via the fyrfeed platform, the company delivers new posts, ready for publication, for social media and blogs to its clients on a weekly basis, which can be published automatically. For this purpose, clients define the main theme and communication style once. The rest is done by a combination of artificial intelligence and a team of highly qualified human creatives. The monthly time required by the client is thus reduced to around 5 minutes. “Content is King – we are making it affordable also for small and medium-sized enterprises (SMEs)”, says Dr. Thomas Lindemann, Co-founder and CEO of fyrfeed.

AI & man: Human-In-The-Loop

The concept of the Berlin AI company to let man and machine work together is called Human-In-The-Loop. This way, everyone is using their strong points: The AI creates the proposed topics, generates drafts, and matches the creatives with the clients. The human writers, called creatives, optimize the articles and polish them to perfection. “Premium content can not yet be formed by AI alone; the technology is not yet sufficiently advanced for this. However, the combination of man and machine is a fabulous concept to combine the best of both worlds”, explains Dr. Thomas Lindemann. The result is content at a level of expensive agencies, which entails around 80% less costs.

Team of three founders

The company, which was established in 2019, is managed by three co-founders who had previously gained experience in DAX-30 companies, start-ups, and international consulting: Dr. Thomas Lindemann (CEO) has a doctorate in behavioral science and has previously already built up two enterprises, including a marketing agency; Benjamin Zengler (COO) has studied engineering and industrial design and develops the operative processes of the company; Ehud Alexander Avner (CTO) is an expert in artificial intelligence and has many years of experience in language processing in research and economy.

Investors: Business Angels & VCs

“The combination of man and machine in the area of content marketing with a focus on qualitatively high-quality contents holds enormous potential for growth, because content is the new gold in marketing”, says Tom Villinger, Managing Director of Zukunftsfonds Heilbronn (ZFHN), which is acting as the lead investor. The other investors of the seed round include IBB Ventures and the VC PrimeCROWD of Vienna. During the course of a pre-seed financing round, the technology company had been able to enlist top-ranking business angels, including Dan Phillips (former CTO Hulu and COO Tivo), Dr. Josef Arweck (entrepreneur, investor, and former Head of Communications at Porsche), Sven Rawe (Managing Director of Bernstein Group and serial investor), Dr. Volker Asemann (serial investor), Michael Naumann (Google Moonshots), Julius Göllner (serial founder and serial investor), as well as Jochen Hummel (serial funder and AI expert).

About fyrfeed:

Fyrfeed is an AI and marketing technology company in Berlin that automates the creation of high-quality content articles by means of artificial intelligence and Human-In-The-Loop. By using the

fyrfeed platform, B2B companies switch their organic marketing channels on autopilot at low costs.

About Born2Grow:

Born2Grow is a part of the Heilbronn family office Zukunftsfonds Heilbronn (ZFHN), which has been investing in technology-related start-ups and companies with strong growth in Europe and Israel for almost 20 years. The seed fund supports these companies with capital, know-how, and its extensive network.

Born2Grow is collaborating with other VC funds and business angels.

About IBB Ventures

IBB Ventures has been providing risk capital for innovative Berlin companies since 1997 and has established itself as a market leader in early-stage financing in Berlin. The funds are primarily used for the development of innovative products or services and their market launch, as well as for business concepts in the creative industry. Currently, there are two funds in the investment phase, with a total volume of 122 million euros. Both VC funds are financed with funds from the Investitionsbank Berlin (IBB) and the European Regional Development Fund (ERDF), administered by the Federal State of Berlin. IBB Ventures has already invested in more than 260 Berlin creative and technology enterprises; in consortia with partners, the start-ups received more than 1.7 billion euros, of which IBB ventures has invested more than 250 million euros as lead, co-lead, or

co-investor. IBB Ventures is the umbrella brand for the VC activities of IBB Beteiligungsgesellschaft

About primeCROWD

primeCROWD is one of the largest start-up investor networks in the DACH region and includes more than 3,000 investors, as well as numerous incubators, accelerators, and VCs. primeCROWD acts as an interface between start-ups and investors, arranges equity investments for early-stage and growth financing, and supports start-ups throughout the entire investment process. primeCROWD thereby enables also private individuals to easily access an asset class that is still closed. Since its establishment in 2015, investments in 35 start-ups and in the amount of more than 20 million euros have been realized (two exits). www.prime-crowd.com.





Posted by on 19. May 2022. Filed under Internet, Picture Gallery. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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