The funding round was led by Alium Capital, with Thorney Opportunities and other investors.
Daisee, led by chief executive and co-founder Richard Kimber, has set out to leverage the best in AI research from leading universities including Deakin University and University of New South Wales, to create software applications for companies across a variety of industries.
According to Kimber, who brings significant experience in technology and financial services from chief executive and executive roles at OFX Group, Google, ANZ Bank, and as chairman of technology startup Unlockd Media, “Australia is at a tipping point on AI, and many companies are beginning to appreciate the competitive advantage to be gained from investing in real AI solutions”.
“Our research shows that Australia is at risk of failing to complete globally, with more than two thirds of Australian organisations yet to adopt AI solutions, compared with a global average of 54%. Our model of being able to design, deploy, and then advise companies on AI solutions is a unique proposition in the market.”
Kimber says the funding round is evidence of investor confidence in Daisee’s cutting-edge AI commercial technologies and growing demand for AI in the local market, and the cash injection creates a significant war chest to fuel Daisee’s rapid growth.
Since inception in August 2017, Daisee has grown to 22 employees, with offices in Sydney and Melbourne and Kimber says the funding will allow Daisee to hire more software engineers and data scientists, to help establish the company as “the destination for the best and brightest talent in Australia”.
Alium Capital’s Michael Considine said, “We are always on the lookout for companies who are at the forefront of technological innovation. While there is much talk of AI products and solutions, Daisee’s proposition of an experienced team leveraging world class research for commercial application sat head and shoulders above what other companies are seeking to achieve, and we’re delighted to have partnered with them at the start of their journey.”