Amsterdam-based startup Dashmote today announced they raised 450.000 euro in pre-seed funding from an angel investor, with a post-money valuation of 4,5 million euro.
Dashmote announced the funding round at the UPRISE Startup Festival in Amsterdam. The four month old startup eventually wants to ‘bundle’ web services that you like with a learning algorithm. Founder and CEO Dennis Zhù Shèng Tan likes to call it a “Skyscanner for services”, he told StartupJuncture.
The investment will be used to start development on iOS and Android apps and to build other features.
Although the web services part isn’t live yet, Dashmote demonstrates its algorithm with image search right now. Later on, the startup wants to use its algorithm for news and researching purposes as well, Tan said. “Our technology is very versatile to use, that’s what attracted an investor in the first place.”
Because there is no web service feature yet, and Dashmote wants to use its algorithm for other features as well, its a bit risky not to focus. But Tan is confident: “With the other features we want to create value until our initial idea – a tool for your own workflow with web services – launches. Also, we got a lot of experience with the image search feature. We think it will be no problem to implement our algorithm in other features.”
Photo: From Dashmote website