Artificial intelligence provider Pi.Exchange raises $2.75 million pre-series A

An artificial intelligence startup making AI accessible to smaller companies has raised  A$2.75 million (US$2m) in a pre-series A round.

Pi.Exchange describes itself as an AI-as-a-Service provider and is targeting the banking and retail to professional services sectors with its product.

Investors included AI-dedicated VC Boab AI, Artesian, Nextrans and Vision Creator, alongside additional support from the venture’s first backer Himat Trust.

Earlier this year Pi.Exchange was one of the first ventures in Boab AI’s Scaleup program, receiving a minimum of $300,000 in capital as part of a tailored six-month program.

The latest funding is earmarked for increasing the Victoria-based startup’s team of 30 by 30% in ano enhance its self-serve AI-as-a-Service offering through deep usability testing and increased market visibility.

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