L2F’s machine learning platform raises CHF 3.7 million

Vaud-based start-up L2F just raised CHF 3.7 million for its first product, Giotto Compliance, which leverages proprietary Natural Language Processing models to automate data extraction from medical publications.

The Giotto project, originally launched by EPFL start-up Learn to Forecast (L2F), intends to revolutionize the way artificial intelligence is used. Drawing on the science of shapes, Giotto pushes AI forward by making it more reliable and intuitive in areas such as materials science, neuroscience and biology.

Having evolved into a platform which makes machine learning accessible for users without coding skills, L2F just raised CHF 3.7 million, including CHF 1.9 million in fresh capital, the balance being a conversion of previous loans from its lead investor Swiss-based venture capital firm 4FO Ventures.

“The Series A2 funds allow us to continue the development of our high-performance Giotto AI engine, which we are using to power vertical SaaS applications, initially in the medical device area but with a view to expanding into many other segments in due course,” explains Aldo Podesta, CEO & co-founder of L2F.

The start-up based in St-Sulpice, canton of Vaud, already has one active paying customer using the Giotto Compliance application on a regular basis. Furthermore, eight medical device companies (including major multinationals) have already signed agreements with L2F and further agreements are expected to be signed in the near future.

L2F plans to spend the next year consolidating the position of its Giotto Compliance vertical SaaS product with the introduction of unique additional functionality. The company will also begin preparing itself for a Series B funding round to take its development even further.