Orq.ai secures historic €2.3M pre-seed round

Orq.ai is the first European Generative AI Collaboration Platform for teams to operate Large Language Models (LLMs) and build reliable AI-powered solutions. After a first oversubscribed pre-seed funding round of EUR 800k in September 2023, in March 2024, we closed an extension round of an additional EUR 1.5M.

Our extension round is led by XO Ventures (Bart Malenstein and Marc van Meerwijk) and xdeck ventures. In addition, Curiosity VC and Spacetime joined this round to support Orq.ai as we seek to democratize access to Generative AI worldwide.

Our initial pre-seed round was led by Curiosity VC and Spacetime (Adriaan Mol). Golden Egg Check Capital and various angel investors, such as Arjé Cahn (Bloomreach) and Koen Köppen (Mollie, Klarna), participated.

Funding round

The 2024 financing round was led by XO Ventures of Bart Malenstein (Former CEO Bergman Clinics and Founder/CEO Quin.md) and Marc van Meerwijk, as well as German-based xdeck ventures. Existing investors Curiosity VC and Spacetime from Adriaan Mol (founder of Mollie and Bird CRM) also joined this round. The new investments will be used to expand the product team and the go-to-market team for the European market. The initial focus will be on Germany and the Benelux countries.

"We are very excited to work with founders Sohrab and Anthony and the entire Orq.ai team to help them further develop and roll out their cutting-edge Generative AI platform," said Bart Malenstein, Managing Partner at XO Ventures. "As the complexity and number of Generative AI models continues to grow, there is a great need for a solution that enables AI transformations and seamlessly integrates AI models in the business. Orq.ai provides such a solution via a highly user-friendly platform that empowers non-technical team members, such as domain experts and product managers," adds Marc van Meerwijk, Managing Partner at XO Ventures.

"At xdeck, we believe that the Generative AI market is rapidly verticalizing, and new use cases for different AI models, ranging from chatbots to other applications, are on the rise. Orq.ai provides the right toolkit for enterprises and AI startups alike to infuse their work with AI using experimentation, operations, and optimization," said Markus Gick, Managing Partner at Cologne-based xdeck Ventures.

About Orq.ai

Orq.ai, formerly known as Orquesta Cloud, provides a Generative AI Collaboration Platform for teams to build AI-powered solutions. By delivering the tooling needed to operate large language models (LLMs) out of the box in a user-friendly interface, Orq.ai enables teams to cover the workflow to take AI products from prototype to production quickly.

Founded in 2022 by co-founders Sohrab Hosseini and Anthony Diaz, Orq.ai is on a mission to bridge the gap between engineers and non-technical teams during AI development workflows so that everyone can actively participate in the transformative power of Generative AI regardless of their coding knowledge.

About XO Ventures

XO Ventures is an early-stage, hands-on health/tech investor. Our focus is on actively supporting founders with hands-on entrepreneurial experience and operational knowledge, having successfully founded and led multiple companies ourselves, like Quin and Bergman Clinics. As we are backed by family capital, we have a flexible investment horizon and operate as a long-term partner. Visit xoventures.eu.

About Curiosity

Curiosity is an Amsterdam-based venture capital fund focused on early-stage investments in ambitious, diverse teams based in the Benelux, Nordics, and Baltics. The fund invests in AI-first software companies that create value for businesses and society. Curiosity is led by two experienced operator-investors, Herman Kienhuis, and Maurice Beckand Verwee, supported by a community of expert advisors and portfolio company founders who all become co-owners of the fund. Visit curiosityvc.com.

About xdeck

xdeck Ventures is an early-stage venture capital investor focusing on tech companies with superior solutions in process automation, applied big data / AI, and sustainability tech. xdeck ventures invests in inspiring teams with deep domain expertise and a distinctive understanding of the problem they are trying to solve. Moreover, they are looking for differentiated products or services that solve a real pain point for customers and teams building something significant with the spirit to walk the extra mile. As investors on eye level, xdeck ventures empower founders to constantly challenge their status quo by being their biggest critic and close sparring partner at the same time. Visit xdeck.vc.

About Spacetime

Spacetime is an independent investment vehicle deploying capital and hard-won experience to fellow founders. It provides flexible and long-term growth capital to technology companies in various industries. Through active involvement and through sharing its knowledge, network, and experience, gained from building companies such as Mollie and Bird CRM, it supports entrepreneurs in achieving growth for their business. Visit www.spacetime.nl.