Gothenburg-based startup Kognic raises SEK 100 million in new funding

Swedish startup Kognic has raised SEK 100 million (around €8.8 million or $9.6 million based on the current exchange rate) in fresh funding from existing investors Metaplanet, Neudi Kapital and Stena Sessan, the company's co-founder and CEO Daniel Langkilde confirms to Di Digital (paywall).

Kognic offers a platform helping global enterprises – primarily companies from the automotive industrie – to produce and verify sensor-fusion data for high-performing and safe AI. The company was founded in 2018 by Daniel Langkilde and Oscar Petersson under the name Annotell.

In early 2022, Kognic announced a $24M Series A round co-led by Metaplanet and NordicNinja.

In 2023, Kognic generated revenue of almost SEK 124 million, up 66% year-over-year, while loss almost doubled to SEK 96 million. Co-founder and CEO Daniel Langkilde tells Di Digital that revenue will likely more than double in 2024, and that Kognic aims to reach profitability during 2025.