Irish AI start-up Dubsof has raised $6.5 million (€5.8 million) from a group of European and US technology investors, including Berlin venture firm BlueYard Capital and a fund linked to Irish entrepreneur Dylan Collins.
The Dublin-based company, cofounded by Aidan McNeill, George O’Leary and Bastien Saidi, is helping companies to develop bespoke software infrastructure to help artificial intelligence tools into their existing workflows.
New filings by Dubsof Limited shown the company raised almost €5.4 million in funding from a number of large venture capital investors. McNeill told The Irish Times the total size of the round was $6.5 million.
Dubsof, with a staff of 25 based on Merrion Square in Dublin, was set up last year. It has already tested its platform in beta and live with a number of customers.
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A statement from the company said it has plans to use the funding to double its headcount over the next 12 months by hiring further software engineering and machine learning experts.
“Dubsof exists to build a better economy, to solve co-ordination between people and companies. Most working time goes on admin and co-ordination, and we want people to spend it on the work only they do best,” McNeill said.
The largest contributor to the round was BlueYard Capital, the venture capital fund cofounded by Germany-based Dubliner Ciaran O’Leary in 2016, which provided €2.6 million.
Other notable backers to the seed round were Backed VC, which has invested €1.85 million, Project Europe and Cocoa Ventures.
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Project Europe, which contributed €400,000, is a fund backed by more than 200 tech executives and founders in Europe, including entrepreneurs behind Klarna, Shopify and GitHub. Early-stage backer Cocoa Ventures, a fund founded by Carmen Alfonso Rico and Anthony Danon, invested €350,000.
A newly incorporated UK company controlled jointly by technology investors Collins and Maximilian Regner-Bleyleben called 10xHumans Limited also invested €30,000, the documents show.
The company said Collins, best known for selling gaming software start-ups Demonware and Jolt Online Gaming, and Stripe’s former chief technology officer David Singleton, who now works for Meta’s AI unit, were early angel investors prior to this deal.
Another early angel investors was Matt Fitzpatrick, the chief executive of US AI firm Invisible Technologies and former head of QuantumBlack Labs, McKinsey’s AI software unit. Fitzpatrick has invested a further €10,000 as part of the latest round.
