Tessera Labs banked €55.22M ($60M) Series A funding in a round led by Andreessen Horowitz (a16z). The London-based startup represents a significant transatlantic investment into the UK’s enterprise AI ecosystem, specifically targeting the complex market of legacy software infrastructure.
The company develops AI technology designed to automate the migration and modernisation of SAP and ERP (Enterprise Resource Planning) systems. Large organisations often face multi-year, high-cost projects when moving these critical databases to the cloud; Tessera Labs uses machine learning to handle the heavy lifting of code conversion and data mapping that typically requires thousands of manual consulting hours.
By automating the transition of monolithic business software, the platform aims to reduce the technical debt that prevents large enterprises from adopting modern cloud services. This investment follows a broader trend of venture capital firms backing "unsexy" but high-stakes back-office automation tasks that underpin global corporate operations.
The scale of this Series A underscores the growing investor appetite for specialist AI applications that tackle specific, high-friction industrial bottlenecks rather than general-purpose models.
Originally reported by Tech Funding News.