Switzerland-based leader in true AI, NNAISENSE has successfully concluded its Series B financing round, with a number of high-profile industrial partners having invested in its vision to integrate True AI into intelligent automation.
The company, which draws on more than 25 years of expertise in AI, will apply its machine learning capabilities to deliver bottom-line improvement to the inspection, modelling, and control of complex industrial production processes. It is an outgrowth of the internationally renowned Swiss AI Lab, IDSIA which has been at the forefront of scientific breakthroughs in artificial neural networks (including the invention of LSTM), deep learning, reinforcement learning, artificial evolution, and general purpose AI, since the early ’90s.
The lead investor in the round is Samsung Ventures Investment Corporation, whose focus is on future-oriented businesses based on new and innovative technologies, while other significant investors include Repsol Energy Ventures SA – the venture capital arm of integrated global energy company Repsol – and Schott AG, who are keen to explore the possibilities AI can deliver as part of its digitalisation program. B2B tech venture fund Alma Mundi Ventures, which was the lead investor in the Series A financing round, increased its position, while Jaan Tallinn’s Metaplanet Holdings OÜ also invested further. Tallinn was a founding engineer at Skype and Kazaa and is keen to see AI put to uses that are beneficial and which align with human values.
“As we bring this Series B round of financing to a close, we are delighted to be working with investment partners that can see the potential our technologies have to add value in the real world – particularly where industrial intelligent automation is concerned,” said Dr. Faustino Gomez, CEO at NNAISENSE.
“The fact that we can count global industrial companies among our backers reinforces our belief that the business case is extremely strong in this area, and we will continue to move forward with the conviction that real-world solutions are the catalyst for the growth of our customers and our business.”
Over the last five years, NNAISENSE has successfully partnered with major players in diverse industries including steel and glass production, robotics, additive manufacturing, autonomous vehicles, and renewable energy.