AI-powered document scanning platform eyeDP has announced the successful completion of its latest funding round.
The undisclosed sum was raised following a funding round involving “a close network of angel investors and strategic industry figures”.
EyeDP uses AI software to scan and verify documents, aiding in practices such as risk management and fraud detection.
The Cardiff-based firm was first established in May 2024 under the parent company SCV Labs Limited, as per records on Companies House.
Key people within the company are listed as founder and CEO Warren Russell, CFO Stephen Blundell and non-executive director Mark Dale.
The latest available financial records show the business had net assets totalling £169,000 as of December 2024.
The firm counts Crucial Compliance, BetComply and Dialect as partners. Former Bede Gaming head Paul Addicott-Evans serves as a strategic adviser on AI to the business.
The company noted that funds raised would primarily be used for additional product development, in addition to expanding its team as it enters its next phase of growth.
An eyeDP statement read: “Following its launch in 2025, eyeDP has seen rapid early growth, driven by strong pilot performance and increasing demand for more advanced approaches to document intelligence in the face of rising AI-driven fraud.
“That next phase is centred on continued product development, expanding the range of documents the platform can process, improving accuracy, and advancing towards fully automated, dynamic intelligent document processing.
“At the same time, eyeDP is investing in team growth to support increasing scale and the complexity of the challenges it is addressing.”
Speaking about the latest funding round, Russell said: “We’ve been building towards this for some time.
“This investment gives us the ability to stay focused on what matters, improving the product, scaling the team and solving a problem that’s only becoming more complex as fraud evolves.
“Our goal is simple: to give regulated organisations clarity and confidence in every decision they make.”
The post AI-powered fraud detection startup eyeDP closes seed funding round first appeared on EGR Intel.
Document scanning platform to deploy capital on continued product development as it enters next phase of growth
The post AI-powered fraud detection startup eyeDP closes seed funding round first appeared on EGR Intel.