Logically, a Brighouse-based technology company using AI to tackle disinformation, has completed a $24 million funding round led by growth investor Vitruvian Partners.
The funding round also included investment from the Amazon Alexa Fund alongside existing seed investors XTX Ventures and the Northern Powerhouse Investment Fund (NPIF), managed by Mercia Asset Management Plc.
Logically said it will use the funds to scale its capabilities and drive growth across its three core markets in the US, UK and India.
The investment will also enable the AI firm to accelerate its technologies across AI, machine learning and open source intelligence (OSINT). The acceleration is in a bid to stay at the forefront of the fight against misleading online information and conspiracy-driven threats in areas such as election integrity, public health and national security.
Last year, the company struck a partnership with Facebook to tackle misinformation.
Lyric Jain, founder and CEO of Logically, said: “I am delighted to announce our latest fundraising round led by Vitruvian Partners. Vitruvian’s experience supporting high-growth and innovative technology companies globally will be invaluable as we continue to scale up our capabilities and operations.
“Given the evolving threat landscape and the increasingly sophisticated technology being used by adversarial actors, this investment will help us continue to stay at the forefront of the fight against misinformation, funding further research and development of end-to-end technology solutions that really break down and combat information threats.”
Peter Read, Cortex Partner at Vitruvian, added: “We look forward to supporting Logically’s expansion into new geographies and sectors in order to increase the impact they can have on this global problem.”