Dear investor

Ever received a response from a founder like this? 👇🏻👇🏻

Trust me, I’ve wanted to say this many times!

Marko here, CEO and Co-founder of Luccid from Berlin. Let’s go!

When launching something new, smart founders typically tap into their personal networks for initial customers. That's exactly what I did. Today, I'm excited to share two stories from friends I connected with through Serbian Entrepreneurs and Antler, right here in Berlin.

Today’s stories: Make your AI smarter with Cognee.ai, CRM Chaos? Converta It!

1. Cognee

I met Vasilije, the founder of Cognee, at a Serbian Entrepreneur event in Berlin. His product caught my eye immediately. I had to see if it could work in my field—architecture. I jumped in as one of the first testers. Sure, it was buggy, but I loved how it worked!

Cognee automates personalized GPT outputs by creating a database of business processes and user habits from millions of documents, enabling cost-efficient and faster AI in production.

In English that you and I understand: Cognee is a tool that makes AI smarter and faster by learning from a huge number of documents and data. It understands what users usually do and how businesses work, and then it uses this information to tailor responses more effectively. This makes the AI cheaper to use and quicker to respond.

Why are they interesting?

Imagine a company swamped with customer service requests. Cognee can learn from millions of past emails, chats, and documents. It understands common problems and solutions, creating a smart database tailored to the company and its customers.

Now, when Cognee meets a new customer, it already knows what they might need. Say a lot of people ask about returning an item. Cognee can instantly give clear return instructions without digging through files or needing human help.

Cognee operates in the OSS tooling segment with a TAM of well over $20B. They believe that by 2027, 40% of companies using cloud data warehouses will also be using AI in their operations. That’s about 142K companies. Their projections show that these companies will spend around $7,140 per terabyte of data they use!

The team

Vasilije Markovic (CEO) brings 8 years of expertise in constructing and overseeing big data systems at big organizations such as Taxfix, Omio, Zalando, and Bocconi

Boris Arzentar (CTO) has over 10 years of experience in software and product development, with significant roles at StuDocu and Pera.

Traction & Ask

Cognee is in the pre-seed phase, generating $30K ARR, supported by one design partner and multiple LOIs.

Since launching in March, the project has attracted over 500 stars on GitHub.

They are now actively raising $1 million, with a portion of that already secured from angel investors!

Don't miss out! They're based in Berlin, and you can directly contact them via this email: [email protected]

2. Converta

I first encountered Marco and Matthias, the founders of Converta, at the W23 Antler Cohort. I instantly clicked with Marco, not just because of his amazing name but also due to his extensive tech knowledge and his background as a former VC. I had a ton of questions for him.

Matthias, on the other side, wanted to scratch his own itch and address the inefficiencies he experienced in his role on the hyper-growth team at Ultimate, particularly how much information was lost or forgotten during sales meetings.

He teamed up with Marco and after an intensive 10-week Antler program, Converta was born. It is a B2B SaaS AI Copilot that captures sales meetings and automatically updates the CRM. This gives companies full, unbiased insights into their sales pipeline, enabling truly data-driven business decisions.

Why are they interesting?

With Converta, you don’t have to chase your sales reps to fill out CRMs and create reports. Converta will do that, ensuring that every crucial detail from sales meetings—dates, values, or structured data—is captured and formatted for easy pipeline management and insightful reporting.

Its analysis includes context-specific citations from meeting transcripts, offering a fuller picture and enabling sales teams to revisit and understand the nuances of each discussion.

This level of detail and insight gives sales teams a significant edge, helping them to identify opportunities, refine strategies, and ultimately close more deals. They can stop bitching about administrative tasks and focus on selling.

Converta unlocks a €37B revenue opportunity in the market of go-to-market automation. 

The team

Matthias Kuhn (CEO), was a key member of the hyper-growth team at Ultimate, and employee #15 before the company's successful exit to Zendesk.

Marco Giannone (CTO), is a serial entrepreneur with over 14 years of software development experience and a former VC.

Traction

In just 30 days, Converta demonstrated its value and viability with 20 daily users and over 30 on the waitlist. It has already analyzed over 500 meetings and 10,000 data points.

The company has initial backing from Antler and is preparing to raise a pre-seed round in Q4 of 2024 / Q1 of 2025, so get in touch with them before it’s too late. We all know that VCs are on summer break from June to September.

They are based in Berlin and you can write to Matthias directly at: [email protected]

3. Luccid.ai update

Last week, we kicked off our first pilot demo with Velux. We handed over their accounts and now we’re in a 2-4 week testing phase. We’re gathering metrics to see how much value Luccid delivers.

In 2 weeks, we’re doing the same with Knauf. Their documentation was shitty, so we’re cleaning it up.

And here’s the big news: Yesterday, we met with Goldbeck, one of the world’s top architecture firms. We’re talking about building an AI expert using their entire knowledge base as a pilot project. Can’t wait to see where this goes!

That Wraps Up Today's Newsletter!

As always, I'm eager to hear your thoughts. This is a work in progress, so I greatly appreciate any feedback or suggestions you might have.

Connect with me on LinkedIn.