Oslo, Norway – Factiverse, the AI-powered fact-checking company, has announced it has secured €1 million in funding to develop its innovative technology further and expand operations. The company also celebrates the recognition of its co-founder, Maria Amelie, who has been named one of the "50 Women in Tech" by the prestigious network Abelia and Oda, and the launch of its journalist trial program.
The funding includes investment from Murshid Ali, founder of Huddlestock and Skyfri, Johann Olav Koss, investor and four-time Olympic gold medalist, Yasmin Namini, former C-level executive at the New York Times, Herfo, a privately owned investment firm in Norway and China, and Valide Invest, a Norwegian pre-seed investment house, as well as other angel investors from the USA and UK. The funding comes after Factiverse’s early traction and impressive results, which include winning both the Best AI Startup award by Nora AI and the Digital Trust Challenge by KI Park Germany in 2023.
Of note, Factiverse is not another prompt company. Since 2016, it has built patented models for high-quality content analysis. Its technology empowers media companies, publications, journalists, and organizations to check any statement easily while minimizing “AI hallucinations” and the often damaging mistakes associated with artificial intelligence.
"Instances of companies facing legal repercussions for factual errors in their chatbots are already a reality,” Espen Egil Hansen, Chairman at Factiverse, said. “As AI becomes more deeply ingrained in our daily lives, ensuring the accuracy of AI models isn't just about good business; it's the bedrock upon which democratic values are built."
Factiverse achieves this by automatically detecting factual errors and surfacing reliable sources to ensure the trustworthiness and accuracy of AI outputs. With its claim detection API, Factiverse detects factual statements in text more precisely than Mistral 7-b and GPT-4, and it does that in 100 languages. It also assesses and finds credible disputing sources more precisely than Mistral7b and GPT-4 in 40 languages. Details of these claims can be read in its white paper, written by cofounder, CTO, and associate professor in machine learning, Vinay Setty.
"We are thrilled to announce this new round of funding," said Maria Amelie, CEO and cofounder at Factiverse. "This investment will allow us to accelerate the development of our now crucial fact-checking solutions and empower even more businesses to leverage the power of AI with confidence."
In a recent survey of 70 of the more than 4,000 users of its web app, ChatGPT, and browser and CoPilot plugin users, 60% said they found it easier to discover sources and news they trust than by using Google. Some of the funding will be used to launch critical new features, such as sorting sources from left to right political bias, and visibility of who owns the sources being checked, as well as its “explainable AI” feature, which will make it easier for users to see what sources are disputed, and why, in plain language.
In addition to the funding news, Factiverse is excited to celebrate Amelie’s inclusion in the prestigious "50 Women in Tech" list by Abelia and Oda. Selected from 700 nominees, and following a rigorous award process, this recognition highlights her exceptional contributions to the field of AI.
"I am honored to be recognized by Abelia and Oda," said Amelie. "This award is a testament to the hard work and dedication of the entire Factiverse team. We are passionate about helping everyone understand what is true and what is fabricated - by humans and AI - and we are committed to developing solutions that are both effective and ethical."
Factiverse is inviting journalists to experience the power of its AI fact-checking solutions firsthand. To apply for the trial program, journalists can simply visit https://payment.factiverse.no/b/aEUeWK21zeKa3Sw9AF to get started with a 30-day trial (no payment card needed).
About Factiverse
Factiverse has built cutting-edge AI to protect businesses against the harmful effects of AI. We provide patented solutions for analysts, consultants, and journalists to verify crucial textual information, including news, reports, and AI-generated content. We assist our users in detecting risk faster and navigating this new reality, ensuring they have the facts they need to thrive in an uncertain world. Factiverse offers a variety of services including AI Editor, FactiSearch, and API offerings.
For more information please below:
- Hackernoon - Truth Serum For The AI Age: Factiverse To Fight Fake News And Hallucinations - Link
- Shifter - Johann Olav Koss og New York Times-profil investerer: Factiverse sjekker påstandene til Trump og Biden på direkten - Link
- The Next Web - Fact-checking startup targets AI hallucinations after raising €1M - Link
Media Contact (for Q&A, interview requests, and image/video assets):
Ksenia Stark - ksenia@confusionandjoy.com
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