Co-one, an Estonian start-up founded in 2021 by A. Arman Kayhan and Mert Menekşe, has completed a successful seed investment round, led by the Maxis Innovative Fund.
Co-one provides an AI-based data labeling service, focusing on the fast, accurate, and reliable annotation of image, video, and text data.
Co-one’s investment round reached a valuation of EUR 4.2 million under the leadership of the Maxis Innovative Fund. Other investors in the round include TechOne Venture Capital, Lima Ventures, Domino Ventures, Leap Investment, Chooch AI CEO Emrah Gültekin, and Investment Banker Siret Ünsal.
The legal procedures of the round were consulted by Karl-Kristjan Kahm and Karl Erik Esko from RASK Attorneys-at-Law.
With the use of its Annotation Management Dashboard, Co-one allows companies to efficiently manage their data labeling processes. The company also offers the Kovan App, which provides over 3500 users with the opportunity to earn income by labeling data.
In 2021, Co-one received investment, and reached a valuation of EUR 1.35 million, with TRAngels’ leadership. Afterward, Co-one’s success continued to grow, with the company increasing its monthly data labeling volume by 20x. The company’s growth was further accelerated in 2022, with a 9x increase, making a significant contribution to the AI ecosystem.
Co-one currently serves more than 35 companies in the European market, and with its new seed investment, the company plans to expand its customer base and grow it’s team. The company’s goal is to play a major role in the European AI market by democratizing data labeling and improving the quality of AI to better serve humanity.
Co-one’s successful seed investment round and continued growth demonstrate the company’s potential to revolutionize the AI data labeling industry. With its innovative products and commitment to democratizing data labeling, Co-one is determined to play a significant role in the future of AI.