A fledgling Argentinian AI company Teramot, a plug-and-play data engineering and analytics company, has today announced that they are backed by an angel investor. Teramot has developed an AI tool that autonomously makes sense of large datasets, so businesses can get reliable and actionable information instantly.
Teramot's co-pilot assistant allows users to ask questions in natural language via chat, providing accurate responses by accessing the company's data. While there are many options available for such copilots, none offer the plug-and-play functionality that Teramot does.
The angel investor and founder of breakthrough fintech project Concryt, Ryta Zasiekina learned about Teramot when she met its CEO and co-founder, Bruno Ruyu, at the Stanford Executive Program earlier this year, under which they were both studying. Intrigued by Teramot's mission to transform the B2B market with its cutting-edge AI-based tool, and being a firm advocate of emerging AI technology, Ryta has invested USD $100,000 which will help support the business and further develop its potential use cases.
Ryta commented: "This is an exciting time for Teramot, and I'm proud to help the business on its growth journey. Not only will it help companies unlock an AI-driven transformation of their operations, it also promises to empower them to access and interact with data directly.
"As our recent research shows, AI continues to play a pivotal role in the future of fintech, and it's great to be at the epicentre of such important developments."
In 2023, the global AI market garnered investments worth $142.3 billion, a figure that is growing due to the influx of investments. Additionally, AI startups have nearly doubled their investments by $5 billion. Funding is expected to grow into the trillions of dollars as more businesses focus on machine learning and chatbots to enhance and transform their front-end and back-end operations.
Bruno Ruyu added: "Teramot is transforming the B2B market with its cutting-edge AI-based tool that autonomously integrates with your company's internal systems, creating a fully functional data lakehouse tailored to each customer's specific needs. Instead of waiting six to eight months for a tech team or consultant to complete this process, Teramot can deliver results in less than a week. During the first half of 2024 we focused on testing the product with customers in LATAM, in the second half we are expanding to the US. We are incredibly grateful to Ryta for her investment, which we will use to grow our user base."
According to Concryt, the future trajectory of the fintech sector depends on the extent to which AI can be effectively deployed amid an uncertain regulatory lens, and for business and consumer use cases that are yet to be fully realised. Concryt's recent whitepaper uncovered how AI is being deployed across the world's top 10 fintech companies, with Large Language Models (LLMs) standing out as the preferred application of choice.
