Startup Story: Factiverse X NATO DIANA Estonian Accelerator

Factiverse extracts crucial and reliable real-time insights from news, live broadcasts, YouTube, TikTok, and Telegram. It was founded on this mission in 2021 by Dr Vinay Setty, and award-winning journalist Maria Amelie. Factiverse’ vision is to create a world where every organisation can confidently assess the reliability of digital information, empowering knowledge and democracy through trustworthy insights amidst the overwhelming noise of inaccuracy and the efforts of bad actors.

How was the startup idea born? 

The idea for Factiverse started in 2016 when Vinay Setty decided to do academic research on the possibility of using machine learning and artificial intelligence to fact-check statements made on social media and in the news. Once the solution had been thoroughly tested and peer-reviewed, Vinay joined forces with journalist Maria Amelie as co-founders to bring this solution to the media sector to tackle the growing problem of misinformation and disinformation online.

What has been the biggest challenge so far? What about the biggest obstacle & largest win?

The biggest challenge has been the constant comparison to large language models like GPT, which are shown to produce less accurate results when compared to Factiverse.

The largest obstacle has been educating the market on the difference between general AI tools and our precision-focused technology.

Our biggest win to date was securing a contract with a government sector organisation to support their disinformation detection efforts.

What differentiates Factiverse from the competition?  

Factiverse stands out through its foundation in years of academic research, with peer-reviewed capabilities developed alongside strategic partners. Using our patented technology and the world’s largest fact-checking database gives us unmatched technical depth. Combined with our unique position and global network of partners in media and fact-checking, we offer a level of credibility and scale that sets us apart in the market.

Why did you apply to the NATO DIANA accelerator?

Factiverse wanted to join NATO DIANA because we believe that our technology and product could be applied to the government and defence sector to help them detect harmful narratives. By being part of NATO DIANA, we could have opportunities to have direct access to those stakeholders and ensure that we are developing our solutions that meet the security challenges that they’re facing now. The understanding of this industry that NATO DIANA gives allows Factiverse to scale exponentially in this sector.

Where do you see Factiverse in 12 months’ time? How about in 5 years?

Factiverse has massive potential for growth over the next 12 months. With customers in both media and government, we are running more live fact-checking sessions with media broadcasters, launching our online fact-checking community, and implementing a series of product updates.

Given our current trajectory, in the next 5 years, we would like to be THE go-to company to give accurate and credible insights to organisations both in the private and public sectors.

Who will be the next unicorn in Estonia or in your home country?

In Norway Curipod or Databutton. In Estonia Wayren (*also part of batch #2 of the NATO DIANA Estonian accelerator).

Which books and podcasts in your field would you recommend to other startup founders?

Books: Factfulness by Hans Rosling & Actionable gamification by Yu-Kai Chou

Podcasts: The Weekly Show with Jon Stewart & Business Wars with David Brown

On the photo (from the left): Vinay Setty, Maria Amelie, Gaute Kokkvoll

The Estonian accelerator is implemented by Tehnopol Startup Incubator together with Sparkup Tartu Science Park.