Factmata Raises $1M in Seed to Fight Fake News

Factmata, a London-based company working on machine learning technology able to counter fake news online, has raised £700,000 ($1 million) in seed from a number of investors-- although it has not released its product yet. The round was backed by high-profile personalities such as Twitter cofounder Biz Stone and freedom of information activist Craig Newmark. Past investors include such heavy-weights as Mark Cuban, Mark Pincus, Ross Mason and Sunil Paul. The company is currently piloting a number of projects aimed at flagging up fake news, clickbait, misleading information, and otherwise bad content currently infesting the web. In an interview with TechCrunch, company's founder and CEO Dhruv Ghulati-- a machine learning specialist-- explained that what Factmata is gunning for is a ""community-driven AI: How do we take a machine learning model where you get data to train your model, perhaps pay 10,000 people to flag content?