Element AI raises $102M in Series A investment round
“Intel, Microsoft, and NVIDIA, as pioneers and champions of AI hardware and software, likewise understand that their businesses flourish as every company is empowered with world-class AI. This is why these leaders have backed us with the world’s largest Series A round ever for an artificial intelligence company. This historic round will help Element AI deliver profoundly powerful AI platforms for all, not just the few.”In addition to laying the groundwork to hire hundreds of researchers, this new funding will also be used to aggressively expand on a global scale focusing on AI-powered solutions for their customers in cybersecurity, fintech, manufacturing, logistics and transportation, and robotics. Serial entrepreneurs Jean-François Gagné and Nicolas Chapados, Real Ventures and Yoshua Bengio, a co-father of deep learning technology, co-founded Element AI in October 2016 to help the industry with the massive scale of academic AI innovation Bengio was driving at the world-leading Montreal Institute of Learning Algorithms.
Amazing team ! @element_ai Great investors ! Visionary customers ! Thanks for everyone's support! https://t.co/Sg7PnUTy7Z
— Jean-Francois Gagné (@jfgagne) June 14, 2017