Sinclair Fox

The artificial intelligence market is still in its relatively early stages, but a player in the market has received a large amount of funding. Element AI, an AI company based in Montreal, announced Wednesday it had received $102 million in Series A funding. Element AI operates both as an incubator for AI development and as a consulting firm-like organization for companies that want to integrate AI applications into their day-to-day operations. The company, which was co-founded by noted machine learning researcher Yoshua Bengio, received its large funding round from firms and sources including Intel Capital and NVIDIA. The company, which was originally founded in October, plans to use the round to bolster its staff, internal development and potentially to invest in projects it helps to incubate.