Charlotte based artificial intelligence company Digitize.AI Inc. has raised $525,000 in a private equity offering, according to a filing Tuesday with the Securities and Exchange Commission.
The company is hoping to raise $275,000, for a total of $800,000 from investors.
The money raised was not connected to business combination transaction, such as a merger, acquisition, or exchange offer.
Founded in 2017, the small, privately held company is led by Chief Executive Officer Justin Adams.
Digitize.AI is a start-up using artificial intelligence, machine learning and robotic process automation technology to help companies digitize processes and create digital workforces.
The company takes robotic process automation and artificial intelligence to deliver a higher return on investment. It then uses the digitized processes to access data, which can then be used to improve business functions and train machines to optimally work with companies.
Prior to forming Digitize.AI, Adams helped transform organizations using technology and innovation, working with Fortune 500 companies and the United States intelligence community.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.