Acodis, a leading provider of Intelligent Document Processing (IDP) technology, has raised CHF 6 million in a Series A funding round led by Hi Inov and VI Partners. The funds will be used to solidify Acodis’ position as the premier document processing platform for the pharmaceutical and healthcare industry.
The CEO of Acodis, Martin Keller, stated that the financing is a clear indication of the company’s market relevance and the value it provides to customers. He noted an increasing demand from businesses to extract unstructured data from documents for business process automation and data analytics initiatives. The company, formerly known as Turicode, is based in Winterthur, Switzerland and currently employs 25 people. Its platform allows businesses to optimize the use of unstructured data from various types of documents, and its no-code solution enables business users to set up and customize AI models for any document type in any language.
In the past year, the company has achieved significant milestones, such as onboarding 3 of the 10 largest pharmaceutical companies to automate document processing at scale, launching a no-code platform for advanced document analysis and structure extraction, and receiving multiple awards.
In 2019, Martin Keller, co-founder and CEO of Acodis, was selected to participate in the Venture Leaders Fintech roadshow. This program brought together ten entrepreneurs with top fintech startups to expand their networks and meet with investors in Hong Kong. According to Keller, being a part of the roadshow through Venturelab greatly accelerated Acodis’ journey by providing extensive coaching and matchmaking opportunities, as well as the chance to connect and learn from other like-minded entrepreneurs.
Acodis is a pioneering Intelligent Document Processing (IDP) platform that caters to large companies in the Pharmaceutical and Healthcare sectors. Utilizing cutting-edge machine learning and AI technology, the startup empowers businesses to automate the processing of any document in a matter of seconds. The company, headquartered in Winterthur, Switzerland, currently employs 25 individuals.