Finance Wales invests in London headquartered artificial intelligence tech firm

Finance Wales has invested in a London-based tech company which has established a new operation in Cardiff creating four jobs. The Welsh Government wholly-owned investment bank subsidiary has backed cloud.IQ as of part of a £4m equity investment round. IQ's artificial intelligence platform uses machine learning to enable e-commerce business to increase revenues and reduced costs. Powered by data an analytics, the platform responds to data sets in real time to trigger personalised customers experiences and as a result drives customer conversion results at scale. The latest funding round was led by Nauta Capital, who were advised by Armada Ventures.