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

Intel Capital invests $117m in 14 disruptive startups

Intel Capital revelated on Monday they will invest $117 million in 14 start-ups using artificial intelligence (AI) and other disruptive technologies in the communications, healthcare and manufacturing sectors.

The tech giant made the announcement at their Intel Capital Global Summit in Phoenix, Arizona, a gathering for venture capitalists and entrepreneurs. They said the new investment is part of the company’s strategy of taking “strategic positions” in promising start-ups that see it invest anywhere between $300 million to $500 million a year.

The beneficiary companies are from China, Canada, Israel, the United Kingdom, and the United States. They include Landing AI, a company created by former Google Brain co-founder Andrew Ng helping manufacturers apply AI to their business practices, and Untether AI, which makes neural net optimised chips.

The other three AI companies that received funding yesterday are Cloudpick Ltd., a Shanghai-based provider of “smart retail” technologies building deep learning algorithms to facilitate a “grab-and-go” shopping experience, Silicon Valley-based SambaNova Systems building systems for running AI applications anywhere, and Chinese Zhuhai Eeasy Technology, which makes AI systems for media-related use cases for deployment on the edge, such as video encoding and image processing.

“These companies are shifting the way we think about artificial intelligence, communications, manufacturing and health care – areas that will become increasingly essential in coming years as the linchpins of a smarter, more connected society,” said Wendell Brooks, a senior vice president at Intel and president of Intel Capital.

Among the non-AI companies, part of this investment is Polystream, which delivers 3D applications for video games in the cloud, Pixeom, which helps clients manage large-scale hybrid cloud and edge computing, and Tibit Communications, which makes a device to improve Ethernet internet connections.

During the Global Summit, Intel also announced an investment in hbcu.vc, a nonprofit organisation helping students from historically black colleges and universities, as well as Hispanic students, to learn more about venture capital and entrepreneurship.

Image via Flickr/ JiahuiH

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