Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

AI startup valued at $100m after funding round led by Tencent

Cambridge-based artificial intelligence (AI) company has been valued at $100 million after a $24 million funding round by investors including Amadeus Capital and Pearson Plc.

The company said the new investment will go towards launching products and moving into new areas such as education.

The funding round was led by Chinese tech giant Tencent, with participation from Pearson and others including Amadeus Capital Partners, Atlantic Bridge and Cambridge Innovation Capital.

“We are looking forward to applying its AI decision platform to a broadening range of customers, potentially including some of Tencent’s affiliate companies”, said Ling Ge, Tencent’s chief European representative.

Prowler called some of the participants in the current funding round as “strategic investors,” but did not specify which of the firms was referring to.

The company, which raised a £10 million series A round in 2017,  uses AI reinforcement learning to support businesses in making decisions across multiple industries.

This means that, unlike most other companies using decision-making AI which rely on processing a great amount of data, Prowler’s software uses unsupervised methods based on a field of mathematics that deals with probabilities. This allows the software to learn from experience rather than data.

Co-founded in 2016 by Aleksi Tukiainen,  Dongho Kim and Vishal Chatrath, the company currently has 110 employees from 29 countries. Commenting on the news, Chatrath said the new investment was “a  huge sign of confidence in our efforts.” 

Image via mohamed hassan on PXhere.


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