Artificial intelligence-backed technology platform Logically on Wednesday said it has closed funding of $24 million (around Rs 183 crore) led by growth investor Vitruvian Partners.
The round also participation from Amazon Alexa Fund, existing seed investors XTX Ventures and Northern Powerhouse Investment Fund (NPIF).
The firm plans to use the fresh money to ramp up its India team and capabilities as well as drive growth in core markets, including the US and UK.
Logically, founded by Massachusetts Institute of Technology and University of Cambridge alumni Lyric Jain in 2017, addresses harmful and misleading online information and conspiracy-driven threats in critical areas such as election integrity, public health and national security.
"Our work identifying and disarming damaging and misleading information has never been more important. India and the wider APAC region is an important focus of growth for us, and I’m excited for the impact this investment will enable us to achieve," said Jain.
In March 2021, Logically launched its flagship threat intelligence platform, Logically Intelligence, offering analytical capabilities and countermeasure deployment to tackle harmful and misleading online content.
According to the startup's statement, in 2020, itwas awarded first place in the news category of the ‘AatmaNirbhar Bharat App Innovation Challenge’ launched by Prime Minister Narendra Modi.