Logically raises £2.5m in a Series A round led by Mercia to develop its fake news detection technology.
The Series A round was led by Mercia alongside XTX Ventures to prepare the misinformation detection platform for the US elections.
Logically builds artificial intelligence technology designed to detect and address harmful online mis- and disinformation. The company operates across the UK, the US and India to protect democratic integrity and public security.
Logically has raised £2.5m in a Series A funding round to further develop its artificial intelligence technology ahead of the United States elections. The investment was led by Mercia through its NPIF, Mercia Equity Finance vehicle, alongside participation from XTX Ventures.
The Yorkshire-based start-up employs a combination of human fact-checkers and digital forensics to analyse media stories, conspiracy theories and sources of disinformation. The capital will support the company as it expands its operations and secures contracts with public sector bodies and social media platforms in the US.
The funding arrives following deployment in the Indian general and regional elections, where the platform detected over 130,000 instances of problematic content. Logically currently maintains offices in Yorkshire and London.
From the founder
"With the rise of the internet and social media, falsehoods travel faster than the truth. Misinformation can polarise societies and has become a serious threat to democracy. Logically aims to stop the spread of disinformation, ensure people see both sides of the story and keep elections free and fair. Following on from our early successes in India and Europe, we are looking to establish Logically as a partner for governments, businesses and consumers around the world."
Lyric Jain
founder and CEO at Logically
Investor perspective
"Logically has developed an AI technology and an impressive client list. It is well placed to work alongside social media platforms like Facebook, as well as Government bodies and businesses, to tackle a growing issue of fake news."
Ashwin Kumaraswarmy
Investment Manager, Mercia
Use of funds
- 01Continue product development
