Info-tech

Fact-checking platform Logically to raise $7 million in seed round

Mirza Mohammed Ali Khan New Delhi | Updated on August 15, 2019 Published on August 15, 2019

Lyric Jain, CEO, Logically   -  LinkedIn/Lyric Jain

Logically, a fact-checking platform that fights fake news, is raising $7 million in funding for its seed round. The United Kingdom(UK)-headquartered company is raising this round from a combination of institutional and strategic investors.

According to Lyric Jain, Founder and CEO, Logically, the company’s current investor base is “UK-heavy”. But, Logically is looking at possibly involving investors from India and the United States (US) in the future. “We are a trust product. We inherit whatever reputation our investors or prospective investors have,” Jain told BusinessLine.

Logically’s operations are spread between the UK and India. In India, the company operates mainly from Bengaluru. It currently has a team of 30 employees in the UK and 40 in India. Data science and artificial intelligence-related operations are based mainly out of UK, while most of the fact-checking team is based in India. “Fact-checking is going to be 70-people strong soon,” Jain said.

Logically launched in India earlier this year in April. It uses artificial intelligence (AI) and machine learning to verify and fact-check news in addition to human verification. The company’s fact-checking team mostly comprises of journalists and engineers.

Elections are an important focus area for Logically. “User acquisition and retention is a lot more effective during these elections. Based on our learnings, we are going to be applying them in Maharashtra in October and then Delhi in January (before the respective Assembly elections),” he furtherelaborated.

Published on August 15, 2019
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