Former Brex duo raises $5 million for new, pre-revenue A.I. agent startup meant to help fintech teams scale

agent that could pull from both public and private data sets could be given sets of steps to perform tasksand ultimately automate the manual labor that bogged down operations teams and limited scale at fintech startups, things like Know Your Business compliance, fraud detection, or customer onboarding.We started with fintech because we understand that space really welland as we better understand the capabilities and our customers needs, we want to expand it to other markets too, Asver says.Rios-Berrios had started out as an intern at Twitter in 2010, working his way up to become the head of data science, then joined Brex in various management positions, including leading technical strategy. agents for each company, built on top of Anthropics Claude large language model and utilizing GPT-4 for some tools like summarizing documents.Without a dollar in revenue, Asver and Rios-Berrios now have a slew of notable investors on their cap table. He notes that Parcha AI has 20 more customers in the pipeline that they will onboard over the next few months.Parchas ability to raise several million dollars in just a few months without a finished product or revenue is the sign of the timesand the high demand and potential that investors are promising for A.I. Agronomics led the round and was joined by Invest-NL, BlueYard, Bridford, MilkyWay, DSM Venturing, and Wise founder and chairman Taavet Hinrikus.- Local Logic, a Montreal-based location intelligence insights provider, raised $13 million in Series B funding. Formerly, he was with Arizona Nutritional Supplements.- Skky Partners, Kim Kardashians Boston and Los Angeles-based private equity firm, hired Angela Ahrendts as a senior operating advisor.