The Sea and Sand Foundation is a Toronto-based VC firm. It is acting as Soffos’ lead investor for its pre-seed fundraising round. Soffos is raising $750,000 in its pre-seed round. With the lead investor secured, almost half of the target raise has now been committed.
The company is currently in advanced talks with other investors and is looking to close the round by the end of August 2020.
Soffos is disrupting the EdTech market by providing a sophisticated learning and development solution for businesses. The funding raised will help Soffos develop the Beta version, which will launch in Q4 2020.
Delivered as a SaaS platform, the startup will provide high-quality, hyper-personalized training to employees. Using spoken and onscreen questions, Soffos uncovers gaps in employees’ knowledge, then provides learning resources to fill those gaps.
Texas-headquartered Soffos is a portfolio company of Fountech.Ventures, which acts as an incubator, accelerator and investor for deep tech and AI startups, and will invest in future rounds.
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Stergios Anastasiadis, an angel investor and founder of the Sea and Sand Foundation, will also be joining the Soffos board.
Nikolas Kairinos, founder and CEO of Soffos, said: “The Sea and Sand Foundation’s support will be instrumental in helping bring Soffos to market. The funding will be directed towards building and refining the Beta model, which will launch later this year.
“What’s more, we look forward to having Stergios’ expertise to help make Soffos a big success. We are confident that the world’s first AI-powered KnowledgeBot will prove hugely valuable for businesses and professionals around the world.”
Stergios Anastasiadis added: “At the Sea and Sand Foundation, we are also drawn towards businesses that solve business problems by using disruptive technologies.
“Employee training has traditionally been a resource-intensive operation; it is an area in desperate need of digital transformation. Soffos provides a whole new way of delivering L&D, ensuring employees can continuously improve their skills and knowledge. We look forward to supporting the launch of this next-generation AI solution across the corporate sector and lifting this heavy burden.”