Australian crowdfunding outfit VentureCrowd has closed its first Israeli start-up funding round, landing $155,000 for AI email firm Knowmail.
VentureCrowd raised $155,000 in convertible notes as part of a larger $US3 million funding round led by CE Ventures, AfterDox, Plus Ventures and 2B Angels, giving investors – from the ‘crowd’ – an interest rate of 4.5 per cent per annum.
VentureCrowd’s interim CEO Luke Fay said he was attracted to Knowmail’s tech, an artificial intelligence personal email assistant to help employees focus on their most important emails first.
The machine learning algorithms prioritise emails based on their importance and an employee’s work habits.
Knowmail was one of the few startups to participate in the Microsoft Accelerator Program, Mr Fay said.
Read the full article by David Swan at The Australian.