FIT awards a CHF 50,000 loan to Logmind
Logmind, a local startup developing AI-accelerated analytics software, has been awarded a CHF 50,000 Digital Seed loan from Vaud’s Foundation for Technological Innovation (FIT).
Logmind has created a software platform that helps companies automatically diagnose and troubleshoot problems from their complex IT infrastructure. Firms in a number of industries generate IT log data that, although crucial for their businesses, are often hard to sort through given their size and unstructured nature.
With Logmind’s software, companies can get greater visibility into their large volume of log data as well as customized, automated recommendations on how to manage their IT more efficiently. The software uses AI technology to automatically detect incidents, pick out the most relevant data, display complicated information in an easy-to-read manner, monitor IT system operations directly and with a high level of granularity, and send alerts in the event of abnormal activity. The company facilitates the work of IT managers and developers by streamlining the administration, maintenance and security of their IT assets.
Logmind was based at the La Forge co-working space at EPFL before joining the MassChallenge Switzerland business incubator in Renens in June 2019. In September it won a Startup Matching Grant from Georgia’s Innovation & Technology Agency. Thanks to the help of the Embassy of the United States in Georgia, it was selected to take part in a “Agile & Scrum” workshop in New York City. The startup currently has six employees.
Logmind will use the FIT Digital Seed loan to improve the first version of its software and carry out a fundraising round, the proceeds of which will go towards business development and new customer acquisition in Switzerland. “We really appreciate FIT’s support,” says Ketevani Zaridze, Logmind’s founder & CEO. “This loan will allow us to upgrade our existing software, finish preparing for our upcoming fundraising round and ultimately get our product to market faster.”
Ketevani Zaridze, Founder & CEO
Email : kzaridze(a)logmind.com