[Funding alert] Tech startup Logically raises $24M led by Vitruvian Partners
Logically, a tech startup that tackles harmful misinformation online, on Thursday said it raised $24 million in a funding round led by Vitruvian Partners.
The round also saw participation from the Amazon Alexa Fund and existing seed investors XTX Ventures and the Northern Powerhouse Investment Fund (NPIF).
The UK-headquartered startup will use the funds to scale its team and capabilities in India and drive growth across other core markets, including the US and UK.
Moreover, it will use the capital to accelerate its technologies across Artificial Intelligence (AI), Machine Learning (ML), and OSINT, to fight against harmful and misleading online information in critical areas, including election integrity, public health, and national security, the statement added.
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.”
Founded in 2017 by MIT and Cambridge alumni Lyric Jain, Logically combines advanced AI with human intelligence and expertise to tackle misinformation online content at scale. The startup aims to enhance civic discourse, protect democratic debate and process, and provide access to trustworthy information.
Peter Read, Cortex Partner, Vitruvian, said,
“We are pleased to partner with Logically, who have a mission to reduce the harm caused by mis and disinformation, 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.”
In 2021, Logically continued to invest in its engineering and OSINT teams in Bengaluru and Mysore, more than doubling its headcount in India. In March 2021, the startup officially launched its flagship threat intelligence platform, Logically Intelligence, offering both analytical capabilities and countermeasure deployment to tackle mis and disinformation.
The startup approaches the issues of mis and disinformation from an end-to-end perspective, with Logically Intelligence able to find, triage, and respond to information threats across over 120 million domains and 40 social media platforms at speed and scale.
It also launched Logically Health in India — a multi-pronged initiative designed to help public and private sector healthcare organisations better identify and manage harmful health misinformation.
At present, it is expanding its partnerships with state governments, law enforcement, and private sector companies across India.