Startups

Novus, the startup that produces text from artificial intelligence, raised its value to €4.5 million

Novus, which enables the creation of up-to-date and original texts through artificial intelligence and NLP technologies, received a preliminary seed investment from Startup Wise Guys with a valuation of €4.5 million. It was stated that the venture will expand its team with the investment it has received, and will open up to new markets as well as focusing on marketing activities.

Novus, a startup based in Istanbul and Boston, which aims to offer up-to-date, original and verified texts to its users with its own developed NLP (Natural Language Processing) technologies, has received a new investment.

Novus, which received a grant from the Massachusetts Institute of Technology’s venture program MIT Sandbox in February 2022, now aims to expand its team and open up to new markets by focusing on marketing activities, with a pre-seed investment of €4.5 million from Startup Wise Guys.

Novus Co-Founder and CEO Riza Egehan Asad underlined that they regularly follow the renewed thresholds of technology and artificial intelligence and that they value and work on bringing academic approaches into practice in the most appropriate way.

Asad said, “We can say that research and development activities are the core of our company, so we can make a difference with our own modules and address the real needs of the users.”

Novus Co-Founder and CRO, Vorga Can, said, “We are bringing a new breath to copywriting with the artificial intelligence-based technologies we have developed since May 2021. Our value proposition is based on producing original content every time and checking the accuracy of the content with automated tools. In this direction, we learn the writing styles of our users through NLP technologies and offer them a personalized content production experience in 6 languages.”

Sharing information about the market size, Can said, “According to the researches, the market size of the industry is estimated to reach $66 billion in 2021, while this figure is expected to approach $80 billion in 2022 and $140 billion in 2026.”

Source: Haberturk / Translated by Irem Yildiz

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