European AI startup Druid has secured $24 million in a Series B funding round to drive its expansion in the United States and enhance its portfolio of AI solutions. Founded in Romania in 2018, Druid specializes in conversational business applications powered by both traditional conversational AI models and emerging generative AI, using ChatGPT. By leveraging Druid’s platform, businesses can develop conversational assistants for various use cases, such as automating customer support when staff members are unavailable. Notably, Druid’s integration with ChatGPT, developed in collaboration with Microsoft, enables access to a vast knowledge base and enhances the platform’s ability to understand customer intent. This capability allows businesses to provide support without substantial manual bot-training efforts. Druid can be deployed on-premises or in the cloud, facilitating data control for organizations. The company plans to expand its global presence with a particular focus on the U.S., which currently accounts for 60% of its revenue. Druid’s Series B funding round was led by TQ Ventures, with participation from European investors like Smedvig Capital, GapMinder, Hoxton Ventures, and Karma Ventures.
European AI Startup Druid Raises $24M to Fuel U.S. Growth and Expand AI Solutions
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