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Logically

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Using advanced AI to help governments, businesses and people uncover and address harmful misinformation.

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Funded
£2,100,008 target
£2,110,694 from 0 investors
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Business overview

Location Brighouse, United Kingdom
Social media
Website www.logically.ai
Sectors Data & Analytics Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 10850644
Incorporation date 5 Jul 2017
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Investment summary

Type Equity
Valuation (pre-money) £28.8M
Equity offered 6.79%
Tax relief N/A
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Business highlights

  • Chosen to deploy services in 3 elections across India and the USA
  • Investigative unit debunked the operator of a major QAnon site
  • 100,000+ App downloads and over 10,000 fact checks completed
  • Live Fact Checked the U.S. Presidential debates inside the App
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Key features

  • Secondary Market
  • Nominee investment min. £11.05 +

Idea

Introduction

Logically uses ensemble AI and machine learning models in combination with investigators and fact checkers to bring credibility to news and improve social/political discourse. We work with governments, businesses and public institutions, providing tools and services (such as intelligence reporting and Fact Checking as a Service) which enable users to identify, verify and deploy countermeasures to harmful or misleading content with efficiency and accuracy. Logically’s tools have been used to ensure information integrity during democratic events such as the Indian General Election and their investigations team have uncovered a number of disinformation campaigns including key figures within the QAnon movement.

Logically's flagship consumer-facing product is an intelligent fact checking and news curation app that combines the best of machine learning with human intelligence - helping the public separate the facts from falsehoods and improve civic discourse.

Substantial accomplishments to date

• Logically is featured on BBC Click - showcasing how they used AI to Live Fact Check the US Presidential Debates

• Logically is selected for the Tech Nation Programme for Artificial Intelligence

• Logically Investigation Uncovers QAnon Central Hub Hosting Phishing Scams; Direct Ties to Jim Watkins

• Logically partner with a key battleground swing state to roll out their election integrity products for US 2020 Election

• Logically investigation uncovers Key Figure behind the largest QAnon Conspiracy aggregator: QMap

• Logically launch their misinformation-fighting Chrome Extension.

• Logically raise £2.5m to further develop its information integrity products in time for the US election.

• Logically Investigation uncovers 'former Vodafone executive' in 5G conspiracy video as UK pastor

• Logically's Browser Extension Selected for #BuildForCovid Global Online Hackathon

• Logically teamed up with Maharashtra Cyber Police to set up a misinformation war room ahead of the regional Maharashtra Elections

• Logically partners with Indraprastha Institute of Information Technology - Delhi to explore the provenance, motivations and psychology of misinformation shared online.

• Logically detects over 40,000 unreliable articles in the run-up to the Indian General Election

Monetisation strategy

Logically earns technology and service fees from governments, businesses and platforms. We operate our technology for pro-active monitoring and alerting and offer various human-in-the-loop countermeasures and services such as Fact-checking on demand; Open Source Investigations; Platform intervention; and counter-narrative creation and dissemination. Citizens are free to use our consumer-facing products; the Logically App and the Logically Browser Extension to take advantage and see these services in action.

Use of proceeds

Logically will utilise your investment to strengthen our commercial team and presence in the USA; to further develop and innovate our leading data science and AI models in the complex field of Natural Language Processing and Machine Learning

This will be applied approximately towards:

28% sales, business/partner development
25% technology and data science
20% platform investments and additional data sources
20% marketing and sales enablement
7% admin

Key Information

Share classes

The company currently has two classes of shares, A shares and Ordinary shares. All investors in this round, including Seedrs investors, will be receiving Ordinary shares.

The rights attached to the share classes are as follows:

A shares:
- Full voting rights
- 1x participating preference on liquidation and exit: These shareholders will first receive their initial investment amount before the remaining proceeds are distributed between all shareholders pro rata.

Ordinary shares:
- Full voting rights
- No liquidation preference

Lead investment

Please note, the lead investment of £2m is a follow on investment from the family office owned by the founder’s family. This investment is on the same terms.

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited (trading as Republic Europe) ("Republic Europe"), which is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Republic Europe platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Republic Europe platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £28,824,699

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

Find out more

Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

Warning

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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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