London, November 11, 2024
Cogna, a U.K.-based AI software startup, has raised $15 million in a Series A funding round led by Notion Capital, with participation from Hoxton Ventures and Chalfen Ventures. This marks a significant step in the company’s mission to streamline enterprise software development with AI-powered precision solutions tailored for industries like energy, utilities, and manufacturing.
Transforming Enterprise Processes
Cogna’s AI platform delivers bespoke software solutions that address specific operational inefficiencies, bypassing the limitations of traditional enterprise resource planning (ERP) systems. Using a blend of generative AI and advanced compilers, Cogna creates customized applications for its clients, including Cadent Gas, the U.K.’s largest gas distributor, and infrastructure service provider Network Plus.
“Traditional industries have struggled with complex operational challenges,” said Ben Peters, CEO and co-founder of Cogna. “Our AI platform transforms inefficiencies into opportunities, enabling businesses to unlock productivity gains and streamline processes like never before.”
Key Features of Cogna’s Platform
1. Natural Language Input: Non-technical users can describe pain points, which Cogna’s platform translates into actionable software solutions.
2. Custom Precision Software: Delivers tailored applications that integrate seamlessly with existing workflows, providing SaaS-like usability.
3. Efficiency-Driven Innovation: Reduces operational bottlenecks, enhances employee productivity, and minimizes reliance on manual processes.
Strategic Market Position
The funding will allow Cogna to expand its customer base across new sectors, scale its “automated AI-powered software factory,” and compete in the $51 billion ERP market and $362.5 billion IT consultancy space.
Howard Forster, COO of Cadent Gas, emphasized Cogna’s transformative potential:
“Cogna equips us with tools to optimize operations, from procurement to gas escape management, enhancing both infrastructure reliability and team productivity.”
Future Roadmap
Cogna will focus on:
• Broadening its presence across industries like telecommunications and public utilities.
• Scaling its team beyond its current 40 employees.
• Enhancing its Natural Language Compiler to enable even more efficient custom software generation.
Backing from Visionary Investors
Notion Capital’s investment underscores its confidence in Cogna’s potential to redefine enterprise software. Hoxton Ventures, known for backing disruptive companies like Darktrace and Deliveroo, also sees Cogna as a transformative player in the enterprise AI space.
About Cogna
Founded in 2023 by Ben Peters, formerly of Five AI, Cogna leverages advanced AI to deliver precision-built software solutions that address industry-specific pain points. By combining domain expertise with cutting-edge technology, Cogna is setting a new standard for enterprise digital transformation.
For more information, visit Cogna’s website.
