Seed Capital leads €4m funding round for BotXO

According to Borsen, around €2m comes from Seed Capital, while Vækstfonden is providing a syndicated loan of €1.8m as an extension of a Covid-19 support package. 

The startup, which raised €250,000 in a first pre-seed round in 2017 and €750,000 in a second pre-seed round in 2019, will use the latest proceeds to strengthen its AI technology.

BotXO was looking to raise €2-3m from European VC funds in the first quarter of 2020 for a negotiable stake, chairman Thomas Black Petersen told Mergermarket last September.

Petersen said that in 2018, BotXO reported a gross profit of DKK 1.44m (€187,000) and a net loss of DKK 874,000. It saw monthly recurring revenues grow by 7.8x in 2018 and expected a rate of 3.4x in 2019.

Company
Founded in 2017 and based in Copenhagen, BotXO has developed an AI-driven chatbot for websites. According to its LinkedIn page, it has fewer than 50 staff. The company in 2018 reported a gross profit of DKK 1.44m (€187,000) and a net loss of DKK 874,000.

People
BotXO – Henrik Fabrin (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Early-stage
• Nordics
• Technology
• Denmark
• SEED Capital
• Nordic venture