Danish startup Light is the latest in a series of European tech firms raising cash as venture capitalists search for the next big thing in artificial intelligence.
Founded in 2022, Light develops software that uses AI to automate various functions that exist within businesses' finance teams, including accounting, bookkeeping and financial reporting.
The Copenhagen-headquartered company told CNBC that it had raised $30 million in a Series A funding round led by Balderton Capital, an early investor in fintech unicorns Revolut and GoCardless.
Atomico, Cherry Ventures, Seedcamp and Entrée Capital also invested in the round, along with angel investors including Hugging Face co-founder Thomas Wolf and Meta board member Charlie Songhurst.
Light plans to use the cash to "double down on the commercial side" of the business, Jonathan Sanders, Light's CEO and co-founder, told CNBC. The startup recently opened an office in London and says it is planning to open one in New York to meet U.S. demand.