The investment will help to expand its mission to protect media and public institutions on social networks.
Elv.ai was co-founded by Jakub Šuster, Gabriel Tóth, Ľudovít Ďurman, and Milan Dubec in response to hybrid warfare and Russia’s full-scale invasion of Ukraine. Originally, the startup was launched as a non-profit project by the Slovak communications agency New School Communications to filter hate content and protect online discussions.
Currently, Elv.ai is based on a combination of technology and human factors. By utilizing machine learning and human moderators who control the AI and recognize possible linguistic nuances not picked up by technology, Elv.ai can identify and remove inappropriate and hateful content promptly.
“We decided to invest in elv.ai because we believe that cultivating the online space improves the social atmosphere as a whole. As an impact fund, we are interested in the financial return and the positive impact on society. We welcome efforts to use technology to mitigate misinformation content on social media, which should serve to connect people, not spread hate. We see the potential of the elv.ai tool not only in the Czech and Slovak markets but also elsewhere in the European market” says Miroslav Beblavý, CEO of the CB ESPRI Impact One Fund.
Because of the dynamics and context of language, Elv.ai combined AI with human moderators who control the AI and recognize possible linguistic nuances not picked up by technology.
Since the project’s launch in March 2022, elv.ai has hidden or deleted more than 2,500,000 hateful or disinformation comments out of more than 16,000,000 and has identified more than 5,000 fake profiles in response to hybrid warfare and Russia’s invasion of Ukraine in 2022.
Thanks to the investment, Elv.ai has launched its product in the Czech Republic, where it protects discussions and social networks of Prima TV and the Economia publishing house.
Since its launch in Slovakia, elv.ai has recorded over 2,500,000 hateful or disinformation comments out of more than 16,000,000 and has identified over 5,000 fake profiles.
In the Czech Republic, out of more than 2 million monitored comments on 44 profiles, up to 504,000 were hateful content, which is 24 percent.