IFC invests $3M in AI-focused fund pi Ventures - ETtech

International Finance Corporation (IFC), the investment arm of the World Bank Group, is investing $3 million in pi Ventures' maiden fund. An early-stage investment firm, pi Ventures is focused on startups in the area of applied artificial intelligence, machine learning and internet of things (IoT). The amount will be used for investing in companies leveraging technologies such as applied artificial intelligence (AI), machine learning and IoT across a range of sectors. "Getting IFC to back us in our journey is very meaningful to us," said Manish Singhal, founding partner of pi Ventures. "Not only do they bring a wealth of knowledge but also a worldwide network, which can be very useful for our investee companies." It has backed four projects so far -medical diagnostic startup SigTuple, heart monitoring startup ten3T Health (Cicer), energy management firm Zenatix and health analytics startup Niramai.