Logically, a tech startup announced on Thursday that it had raised $24 million in a funding round led by Vitruvian Partners. Logically tackles harmful misinformation online.
This round also saw participation from the Amazon Alexa Fund and existing investors XTX Ventures and the Northern Powerhouse Investment Fund (NPIF).
The logically has its headquarters in the UK, is planning to use the funds in skills like:
To fight against harmful and misleading information on air in critical areas, including election integrity, public health, and national security.
Logically was founded in 2017 by MIT and Cambridge alumni Lyric Jain. Logically is the combination of advanced artificial intelligence with human intelligence and hands-on to tackle misinformation online content. The startup has its own list of motives-
In FY21, it Logically invested in its engineering and OSINT teams in Bengaluru and Mysore. In March 2021, the startup launched a threat intelligence platform. Logically Intelligence offers both analytical capabilities and countermeasure deployment to tackle the misinformation.
Logically Intelligence is able to search, triage, and respond to information threats across 120 million domains and 40 social media platforms at speed and scale.
It also launched Logically Health in India, which is a multi-pronged initiative designed to support public and private sector healthcare organizations to better identify and manage harmful health misinformation.
Lyric Jain, Founder, and CEO, Logically, said, “Vitruvian’s experience supporting high-growth and innovative technology companies will be invaluable as we continue to scale up our capabilities and operations. Our work identifying and disarming damaging and misleading information has never been more important. India and the wider APAC region is an important focus of growth for us, and I’m excited for the impact this investment will enable us to achieve.”
Peter Read, Cortex Partner, Vitruvian, said, “We are pleased to partner with Logically, who have a mission to reduce the harm caused by wrong information and to enhance civic discourse. We look forward to supporting Logically’s expansion into new geographies and sectors in order to increase the impact they can have on this global problem.”