Cogna Founder Secures $15M to Drive Innovation in Self-Driving Cars and AI-Driven Enterprise Software
A founder who was an early mover in autonomous vehicle technology has successfully raised $15 million for his next venture: a startup that claims its AI can autonomously generate enterprise software.
The UK-based startup, Cogna, is led by Ben Peters, the technical co-founder of FiveAI, a self-driving company that was sold to Bosch in 2022. The Series A round is led by Notion Capital, with contributions from Hoxton Ventures and Chalfen Ventures. This follows a seed funding round in May 2023 when Cogna secured $4.75 million from various investors, including Peters’ co-founder from FiveAI, Stan Boland, and Acorn Software’s founder, Herman Hauser.
Cogna focuses on enterprise resource planning (ERP), a vital software component for organizational management, encompassing everything from procurement and inventory management to finance and human resources. Traditionally, large enterprises can spend billions contracting systems integrators to customize or develop ERP solutions tailored to their needs.
Peters asserts that an AI-focused platform can streamline this process. While overcoming challenges is part of any AI startup journey, early indications suggest ERP could be a promising area, and Cogna may emerge as a key player. Since its launch, Cogna has onboarded clients such as the UK gas distributor Cadent Gas and Network Plus, an infrastructure service provider.
“Our customers do not view it as traditional ERP software,” Peters remarked. “They come with specific problems that classic systems like SAP cannot solve. We create a custom piece of software tailored to their workflows, engineered by our AI.”
Cogna blends generative AI with various tools for software development. Non-technical teams can articulate their issues in natural language, and Cogna handles the rest.
The technology leverages a combination of language models from providers like OpenAI and Anthropic as part of what Peters calls their "Natural Language Compiler."
Cogna aims to create an environment where software can develop itself, as explained by Hussein Kanji, Hoxton Ventures’ co-founder. This positioned Cogna as a relevant player in the growing trend of applying generative AI to complex enterprise applications.
Furthermore, Peters draws parallels between Cogna and Cursor, a code construction tool from Anysphere, suggesting a similar market dynamic given the recent investment frenzy surrounding Anysphere, which has seen its valuations surge.
With a background in self-driving technology, Peters excels at identifying market opportunities and pivoting as needed—skills he honed at FiveAI, which transitioned from operating autonomous vehicles in London to developing software solutions for other companies before being sold.
Cogna now aims to compete against established IT consultancies like Wipro and CapGemini.
For more details, visit Cogna’s website.
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