Fonio: “You can also build a big tech company from Austria”

Fonio is already the market leader in German-speaking countries and expansion into other European countries, South America and the USA has begun. Now that’s 2024 Daniel Keinrath and Matthias Gruber founded companies receive a round of financing 14.6 million euros completed and is included in the process Valued at 120 million euros.

Rating more than quadrupled

This is more than four times as high as last December, when 3 million euros were raised from business angels in a first small round. At that time the company was valued at just over 25 million euros.

The money comes from the British venture capital company 20VCexisting investors and founders and executives of Synthesia, which generates AI videos, Hubspot, which provides customer relationship tools, and neobank Revolut.

Expansion

The investment will now flow into the further development of the solution and international expansion. The telephone AI is supposed to complete communication platform be expanded. Whatsapp has already been integrated, e-mail and chatbots will follow in the next few months, as co-founder and CEO Keinrath tells KURIER.

AI will also increasingly be used to manage customer contacts, inquiries and appointments. In a further step, she should solve problems independently and proactively contact customers if orders are delayed. The investment will be used to build an AI-based platform that can replace ten different tools that SMEs work with today, says co-founder Gruber.

At the same time, expansion is being pushed forward. Offices are to be opened in the most important markets. This is planned for this year Barcelona, ​​Milan, Paris, London, Warsaw and New York.

“Get big enough quickly”

For his company, it’s now about becoming big quickly, says Keinrath. Recently they were able to acquire 60 new customers in a single day. On Vienna location holds on to the start-up. We are also looking for 30 employees here. “We want to show the world that you can build a big tech company even from the small country of Austria,” said the founder. There is no better location for his company than the German-speaking region, where SMEs are the main economic driver.

The founder came across the topic of telephone AI in San Francisco, where he was staying after launching his first start-up that specialized in influencer marketing Getnano had sold. The topic was not present in Europe, says Keinrath. US competitors like Coat of arms or Synthflow target large customers.

When it comes to AI telephony, the start-up relies on European values. The Data will be in Deutschland saved. “We also have municipalities and hospitals as customers and attach great importance to ensuring that the data remains in Europe,” says Keinrath. The topic will become more important in the next few years.

Big plans

Even after two rounds of financing, the two founders still hold almost 80 percent of Fonio. “I would recommend every founder to only raise money if it is really necessary,” says Keinrath. Because in the end it’s about implementing things on your own initiative and not to please investors.”

Keinrath also talks about Purchase offers in the double-digit million range, which he and his co-founder have already received. “The only reason I would sell is if I have to admit that others are better,” he says. As long as that is not the case, you want to be the company that buys others. In any case, he still has a lot planned for Fonio. “I give us 12 to 24 monthsone World market leader to be,” says Keinrath.