Brussels, Belgium - Timefold, a Belgian-based commercial open source software startup focused on planning optimization through AI, announced today that it has raised 2 million euro in funding from Smartfin VC. The investment will enable Timefold to expand the technology, make it even easier to use, and extend its services to clients worldwide.
Timefold’s AI technology has been used to solve real-world planning problems, resulting in significant economic and ecological benefits. In several cases around the world involving up to tens of thousands of vehicles, Timefold has been able to reduce driving time by 25%. The technology has been applied to complex and high-scale cases where many other solvers have failed, setting Timefold apart from its competitors.
"We are delighted to have Smartfin VC as our investor." said Maarten Vandenbroucke, co-founder of Timefold. "Smartfin VC shares our vision of using AI to solve complex planning problems and create a positive impact in the world. They have been a great help in introducing Geoffrey and I as founders and have provided us with valuable insights into open source venture building."
Smartfin VC is an internationally connected fund that invests in early-stage startups with disruptive technologies. The fund focuses on investing in companies that have the potential to drastically impact markets or industries.
"We are excited to partner with Timefold." said Thomas Depuydt, general partner at Smartfin VC. "Timefold has demonstrated impressive results with its technology in the past, solving planning problems where other technologies have failed. We believe that Timefold has the potential to change the way we approach planning optimization and the usage of resources, and we look forward to working closely with them to achieve their goals."
For more information about Timefold and its AI-powered Open Source planning optimization technology, visit their website at https://timefold.ai.