The Generative AI scaleup, which has already raised over 10 million euro from venture capitalists such as Thomson Reuters and Alkemia Capital, has opened its capital to the European public. The fundraising target is 1 million euro via the market-leading European platform Crowdcube.
MILAN, ITALY / ACCESSWIRE / June 13, 2024 / Contents, the international scaleup specialising in Generative Artificial Intelligence for content creation, is opening its capital to users and small retail investors across Europe, including the UK.
After recently concluding significant funding rounds with Thomson Reuters and Alkemia Capital, Contents is now initiating a $1 million campaign on Crowdcube, surpassing its €500,000 target. This move follows significant growth and aims to bolster its presence in the European market throughout 2024.
"Following our exceptional performance in 2023, 2024 is pivotal for Contents," stated the CEO, Massimiliano Squillace. "Through this campaign, our goal is to further strengthen our footprint across Europe."
The funds raised will fuel sustainable growth in core markets and support expansion efforts in the UK, Germany, and the U.S. Additionally, investments will enhance platform engagement and user experience, leveraging Gen-AI technology to revolutionise content creation with efficient management and high-quality, accessible AI tools for all.
Contents' numbers
Contents recorded remarkable growth in 2023, increasing its annual recurring revenue (ARR) from 6.7 million euro to 10.7 million euro, with 75% year-on-year growth. The company operates in Italy, Spain and France, with plans to expand into the United Kingdom, Germany and the United States. Recently, it raised over 10 million euro in a Series B round, led by Alkemia and Thomson Reuters Ventures, after having raised 4 million euro in Series A in 2021.
In 2023, market growth driven by generative AI accounted for 48% of total investments in artificial intelligence, with a projected CAGR of 36.5% from 2024 to 2030, offering significant opportunities for innovation. Contents stands out in the market as the only all-in-one platform for AI content and is considered among the top 10 Italian startups. With a B2B approach, Contents has been chosen by leading clients such as Sainsbury's and Porsche.
For more information about the crowdfunding campaign, visit the website: https://www.contents.ai/invest/.
Contact Information
Carolina Battaglini
Communication Manager
cbattaglini@contents.com
SOURCE: Contents.com
View the original press release on newswire.com.
