AI Startup Mindsmiths Raises €1.2M To Expand Its AI Goal!

ZAGREB-BASED AI STARTUP MindSmiths RAISES €1.2 MILLION TO EXPAND ITS ARTIFICIAL INTELLIGENCE (AI) PLATFORM

AI Startup Mindsmiths
Image Credit: Mindsmiths

Croatian AI startup Mindsmiths which was founded a year before the pandemic, 2019 to be precise has reportedly raised €1.2 million in seed funding backed by Feelsgood investment fund in order to further develop and expand the startup’s platform that helps the building of autonomous systems, specifically with humanist touch.

It’s understood the young company from Zagreb is pioneering in the field of Autonomous Support Systems (ASS). With the integration of Mindsmiths’s platform, digital systems can become autonomous, make independent decisions, and approach users proactively. While the beauty of this meant a technology that offers users a timely smart solution.

Looking at Autonomous Support Systems from Forbes definition, which defines it as systems that are able to accomplish a task, achieve a goal, or interact with their surroundings with minimal to no human involvement. These systems predict, plan, and are aware of the world around them. However, the subject startup is poised to bring this technology to those decisions that impact people’s lives and humanize this new technology precisely by embedding human fears, emotions and motivations right inside the decision-making process of Autonomous Support Systems (ASS).

Mindsmiths is deploying this technology in different areas of life, notably the medical, while the platform developed by the subject startup is designed to help doctors and hospitals figure out the best solutions on how to carefully handle patients associated with chronic issues beyond the hospital environment, in the same vein, schools can use the startup’s product to offer proactive support and guidance to students, equally, banks are believed to be using ASS to help clients make smarter decisions with their financial assets. Based on this, it’s evident the company is using AI technology to better people’s everyday interactions that will, in turn, bridge the gap between technology and human-level care.

To ensure the company’s (AI startup Mindsmiths) goals remain its priority, it’s offering development within the axis of ASS through democratizing technology. As such, the innovative company is employing humanist experts with the task of continuously shifting the boundaries of how the relationship between humans and machines can work, in addition to AI engineers. Further on this, sociologists, psychologists, and behavioral sciences are charged with the task to ensure that AI systems built on the Mindsmiths platform display the ability to understand users’ needs as it provides emotional support in challenging situations.

“Machine autonomy is the next big thing and it will unlock the incredible potential of increasing quality of life worldwide. Mindsmiths is here to realize that potential. We are aware that with such great power comes even greater responsibility which is why we are dedicated to the UN goals of sustainable development and guide ourselves by the principles of developing reliable AI”, the founder and CEO ‘Mislav Malenica’ said.

Responding to this development, ‘Renata Brkic’, partner and board member of Feelsgood commented: “Feelsgood is the first Croatian social impact VC fund. We are proud to have invested in Mindsmiths, which has won us over with its approach. We estimated that Mindsmiths has great growth potential and is dedicated to achieving positive social impact. Because they create technology that makes democratization of knowledge possible, we expect profits to rise with an increase of quality of life for great numbers of people”.

Looking to the future, the subject company plans to make its platform available to everyone who wants to use it to build positive social impact solutions. While in the meantime, the platform has so far been used in healthcare-related to chronic patients, and the banking sector.

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