Estonian artificial intelligence company Eurora Solutions is opening an innovation and research centre in Tartu; it’s focused on artificial intelligence and machine learning research as well as the ongoing development of the company’s platform.
Currently, 30 data scientists and machine-learning engineers are working at the centre, and the company plans to increase the headcount to 60 experts.
“The need to ‘future-proof’ the platform is highlighted by the European Commission’s plans to introduce new legislation to add product safety and transport security compliance requirements to cross-border trade,” the company said in a statement.
“Any specific requirements will have to be proven to have been met before particular goods or products containing certain components are allowed to even leave the warehouse. Many companies are already struggling to comply with the current regulations. The increasing pressure on compliance will therefore be especially challenging for companies under-investing in their technology.”
“By contrast, Eurora’s platform already verifies the accuracy of parcel data, and its functionality can easily be extended to verify compliance with transport security or product safety,” the company asserts.
New offices in the UK, the US and Singapore
As similar legislative changes will also be introduced in Singapore from 2023, Eurora will open an office in the country in October to assist e-commerce companies in the region to comply with the increasingly complex regulatory requirements.
Using artificial intelligence and machine learning, Eurora’s B2B compliance platform automatically processes 5,000 requests per second with up to 98% accuracy – the highest level of accuracy, speed and automation available on the market, according to the company.
The opening of the centre follows a successful USD40 million series A funding round earlier this year. In recent months, Eurora has opened a UK central office in London and a US central office in Miami, FL.
The company was founded in 2018 by logistics expert Marko Lastik. It employs over 165 people in 18 countries.