With demand for robots that write news stories taking off, Swedish tech company United Robots has raised 1.5 million Euros (A$2.37 million) in growth capital.
Founder and chief executive Sören Karlsson (pictured) says the cash injection from Investment AB Spiltan will allow the company to significantly accelerate expansion across international markets.
United Robots says it already serves all the local media groups in Sweden and several in Norway and Belgium/Netherlands, among them Bonnier, Schibsted and DPG Media. More than four million automatically-generated articles have been delivered in six languages.
Smart automated texts are generated using tech based on data science, AI and natural language generation (NLG), and complement reporter-produced journalism in sports, traffic and hyperlocal news, and about real estate sales and company registrations.
“Over the past six months, expansion into further markets in Europe and North America has gathered pace as news publishers increasingly understand the benefits of automation of routine reporting, including freeing up reporter time and expanding hyperlocal coverage,” said a spokesperson.
Karlsson says United Robots has proved its technology and service “to the most discerning and demanding customers in the world”.
“This deal constitutes strong proof that news automation is happening now, and that we’re the provider with the right solution.”
Investment manager Björn Persson at Spiltan says his firm had been following United Robots’ progress for some time, and was impressed with how it had delivered to plan, despite a challenging 2020. “The company has built up an impressive group of customers in the Nordics, and we believe that this type of complementary journalism will create great value globally as well.”
Spiltan claims a portfolio valued at approximately 700 million Euros, which consists of tech, finance, real estate and industry.