Czech IT company Rossum raises investment of CZK2.2bn

By bne IntelliNews October 22, 2021

Czech Rossum company, which is building a platform to process documents circulating between companies using artificial intelligence, has secured an investment of roughly CZK2.2bn (€85.9mn), which is the third highest amount ever raised by a Czech startup, according to the company's press release, available to the Czech News Agency.  

The investment was managed by US venture capital fund General Catalyst, joined by existing Rossum´s investors – British funds SeedCamp and Local Globe, and Czech Miton. 

"This is extremely good news for the Czech Republic. Rossum is headquartered in Prague and will be hiring hundreds of highly qualified people in Prague in the coming years. Thanks to companies like Rossum, [Czech online retailer] Rohlik and other promising startups, a technology ecosystem is emerging in the Czech Republic that can kick-start the Czech economy as a whole," said Miton partner Tomas Matejcek.

The investment is to be spent on further expansion of top professionals and building a research centre in Prague to further develop AI technology in cooperation with Czech universities. Among Rossum´s customers are e.g. Rohlik.cz, Kiwi.cz, Siemens, Veolia and Bosh. 

“We want every company in the world to speak the same language. The format of the documents will not cause a communication barrier at the same time. It's similar to the human world if there was no language barrier, without having to learn a language other than our native language," added Tomas Gogar, co-founder of Rossum.

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