Scope Capital leads $9.4m round for Artificial Solutions

The funding will support the firm's expansion into the US and support the further development of its technology solutions. Expansion into Latin America and Asia are longer-term plans for the business.

Previous funding
In 2008, Scope Capital injected €6.5m into Artificial Solutions in exchange for a 24% stake in the company. The deal took two months to complete and originated through previous contact between the involved parties. Scope invested from their second fund Scope Growth II LP, a €104m vehicle raised in 2006.

A number of private investors have also invested in the firm.

Company
Founded in 2001 and headquartered in Barcelona, Artificial Solutions has developed patented technology that enables people to hold two-way conversations with applications and services running on electronic devices.

Typically deployed as web-based virtual assistants, the firm's remit also includes computers, mobile technology and other electronic devices. The technology enables organisations to increase direct revenues and reduce costs. 

The technology is available in 21 languages. The firm has development centres in Barcelona, Hamburg, London, Stockholm and offices across Europe, Asia and South America. Customers include Credit Suisse, Ikea and Vodafone.

People
Fredrik Oweson is partner and co-founder of Scope Capital.

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• Topics
• Southern Europe
• Technology
• Expansion
• Spain