Texelio has developed an AI engine that according to the plans will make stock market news more relevant to the reader. The company is now raising capital from a number of well-known investors.
Texelio was founded in late 2019 by Meysam Sadegh , a Chalmers engineer. The company has built algorithms that refine and adapt various stock market news data tailored to its different end-users.
The technology is primarily aimed at marketplaces for equities and mutual funds such as Avanza and Nordnet or Interactive Brokers. Additionally, Texelio is in dialogue with a range of retail banks and global investment service platforms. What these customers have in common is a financial news feed that can now be augmented and refined for more relevant and effective end-use.
By offering the final user an improved news environment, customers capture better insights that help to provide more relevant products and services to those end users.
Texelio has now raised SEK 5.5 million from, among others, Wellstreet Ventures, led by Mikael Wintzell.In addition, Fredrik Posse (founder of Soundtrap, which was acquired by Spotify), and Fredrik Månsson (Kivest AB, also a major investor in Nextory) are also investing.
