Angels in the City and LBA syndicate back action.ai to revolutionise AI-driven interaction

London-based action.ai, the developer of an advanced artificial intelligence (AI) platform for the launch of high-quality chatbots, has closed a £515K investment round which included participation from Angels in The City (AiTC), LBA private investors, and the London Co-Investment Fund (LCIF). The company has developed a unique platform to enable enterprises to launch high-quality smart chatbots in a market potentially worth over £200bn by 2020. The action.ai technology enables industry-leading services to be launched without huge capital expenditure or the need for expertise in artificial intelligence and chatbots.

action.ai has built a technology platform that sits as a sophisticated layer on the foundational tools created by Microsoft, Facebook, IBM and others. The company is leveraging this IP to develop high-quality smart chatbots and is engaged with some of the world’s leading companies. action.ai’s technology provides entirely frictionless ways to buy products and services over a range of messaging channels, for both brands and enterprises. It also provides interactional solutions within enterprises to drive productivity gains and cost savings. The company has already generated a great deal of interest and will use this new funding to increase its execution capabilities.

John Taylor, action.ai CEO, comments, “this has been a tremendous last year for the business and the high quality of investors supporting this funding round is a testament to this. The combination of this new funding and the expertise in the investor group will be instrumental as we scale from our strong base.”

Anthony Clarke, LBA CEO, comments, “smart chatbots have the potential to provide highly engaging and intuitive user experiences. action.ai is right at the cutting edge of smart chatbot development and its innovative platform is already generating huge interest. This round of funding means that the company is now very well placed to drive its commercial and product development activities.”