Georgian-British Startup Artisio has Secured £250,000 in Funding
Recently, it became known that the Georgian-British startup Artisio received £250,000 in pre-seed funding from the British venture capital firm Jenson Funding Partners.
The funding will help Artisio reach the global auction market, which seeks to simplify the production of online auctions. It aims to expand into the US market and create a self-service platform to speed up processes for new clients.
"Our mission is to bring the auction industry to the next technological level, and we are pursuing this goal with great zeal," Artisio said in a statement.
The auction industry lacks innovation – the systems required for this business are often fragmented. Given that auctioneers are required to manage multiple streams of data across third-party platforms, processing a single lot from receipt to payment takes 30 to 40 minutes, resulting in inefficient use of resources.
To solve this problem, in 2020, Berdia Kamarauli and Suri Amarasinghe founded Artisio in London. The startup simplifies the above problem and makes the processes much more automated.