Results


Allego Closes Strong Quarter with Record Growth and New Customers

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Customer and partner expansion and industry recognition signal rapid adoption of company's sales and learning platform together with funding led by General Catalyst Allego, the sales learning and coaching platform, today announced the close of a strong quarter, in which the company added key new customers, renewed 100 percent of its existing customer base and garnered solid industry recognition for its mobile-friendly sales learning platform. Allego also announced it has closed a $7.5M investment led by General Catalyst. "Partnering with visionary sales and training leaders and our team's focus on ensuring their success continued to drive great results for both Allego and our customers in the first half of 2018" "Partnering with visionary sales and training leaders and our team's focus on ensuring their success continued to drive great results for both Allego and our customers in the first half of 2018," said Yuchun Lee, CEO and co-founder of Allego. "We're excited to see the modern learning paradigm -- characterized by easily created and absorbed content, provided continuously and in bite-sized pieces, with reinforcement and support for informal learning -- rapidly gaining traction across sales training and corporate L&D." As it has since inception, Allego continues to fund its growth through positive operating cash flow.


Alternative To Lidar? Startup Light Raises $121M From SoftBank, Leica To Expand To Self-Driving Cars

Forbes Technology

Light cofounder and CEO Dave Grannan raised $121 million for his imaging platform on the promise of its value to robotics, drones, and, especially, self-driving vehicles.Courtesy of Light In February, Dave Grannan, cofounder and CEO of imaging startup Light, flew to Tokyo to meet SoftBank's Masayoshi Son for the first time since beginning conversations with the Japanese billionaire's venture-capital arm. After two more meetings, in Tokyo and Silicon Valley, Son agreed to lead a massive $121 million investment in Light, through his SoftBank Vision Fund. Leica Camera also joined the deal. A big reason that Light was able to attract so much funding is the promise of robots, drones and, especially, self-driving cars. Light uses complex algorithms to combine images from multiple camera modules into a single, high-quality image with depth.


Verge Genomics Announces $32 Million Series A to Lead Artificial Intelligence-Driven Drug Discovery

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SAN FRANCISCO--(BUSINESS WIRE)--Verge Genomics, a drug discovery company utilizing machine learning to develop new therapeutics, announced today that it has raised $32 million in Series A financing led by DFJ. New biotech investors WuXi AppTec's Corporate Venture Fund, ALS Investment Fund, Agent Capital, and OS Fund also participated in the round. The oversubscribed round brings Verge's total funding raised to-date to more than $36 million. With this round, Emily Melton of DFJ will join Verge Genomics' Board of Directors. Founded in 2015, Verge intersects machine learning, neuroscience, and experimental biology to accelerate drug discovery.


Three unexpected artificial intelligence investment opportunities GB Investments

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On the one-year anniversary of the launch of Smith & Williamson's £100m Artificial Intelligence fund, Chris Ford, the strategy's lead manager, explains how AI is making its way into every part of our lives. The backdrop is that AI is transforming the way we drive, the way we communicate with each other and the way we learn, creating a host of opportunities for investors. But, said Ford, while the likes of Tesla and Google are obvious targets for investors seeking exposure to this rapidly growing field, many exciting AI opportunities also exist in finance, healthcare, media and many other sectors. Ford said: "When most of us think of artificial intelligence, we might think of self-driving cars made by Tesla, or Siri, Apple's virtual assistant. "But artificial intelligence is now being used by a whole host of companies and industries, many of which may surprise investors."


AI-powered sales startup 19th Mile bags angel funds from HNIs

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Artificial intelligence-based sales acceleration software platform 19th Mile has raised $180,000 (Rs 1.2 crore) in angel investment from high-net-worth individuals, the company said in a media statement. The key investors include Rishi Vasudev, vice president of fashion at Flipkart; Excelsior Investments; Ritesh Vohra, partner at IDFC Real Estate Fund; Praveer Kumar, chief technology officer at payments solutions startup Finxera; Prashant Gupta, head of engineering at Finxera; and a few others, the statement added. Ltd, the company was founded 2015 by Vijay Gogoi, who worked at consultancy giant Accenture before starting up. An electronics engineer from National Institute of Technology, Rourkela and MBA from MDI, Gurgaon, Gogoi has 19 years of experience in management consulting, sales, talent development, and general management, and has been a technology entrepreneur for the past two years. The company will use the funds to strengthen its product, bolster its technology team, and will launch brand awareness initiatives in India and other international markets, the statement said.


HNIs invest in AI-based sales startup 19th Mile

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Artificial intelligence-based sales acceleration software platform 19th Mile has raised $180,000 (Rs 1.2 crore) in angel investment from high-net-worth individuals, the company said in a media statement. The key investors include Rishi Vasudev, vice president of fashion at Flipkart; Excelsior Investments; Ritesh Vohra, partner at IDFC Real Estate Fund; Praveer Kumar, chief technology officer at payments solutions startup Finxera; Prashant Gupta, head of engineering at Finxera; and a few others, the statement added. Ltd, the company was founded 2015 by Vijay Gogoi, who worked at consultancy giant Accenture before starting up. An electronics engineer from National Institute of Technology, Rourkela and MBA from MDI, Gurgaon, Gogoi has 19 years of experience in management consulting, sales, talent development, and general management, and has been a technology entrepreneur for the past two years. The company will use the funds to strengthen its product, bolster its technology team, and will launch brand awareness initiatives in India and other international markets, the statement said.


Artificial Intelligence Adoption Usage Investment Trends in the Telecoms Industry - MarketWatch

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Summary GlobalData's "Artificial Intelligence Adoption, Usage & Investment Trends in the Telecoms Industry", report examines the advancement in adoption of AI within the global telecom industry along with the key benefits influencing the deployment and projected investments in AI over the next two years.The report highlights the use cases and applications that have highest growth potential in driving the implementation of AI in the global telecom industry. Additionally, the report covers the information about the market opportunities expected to influence the investment in AI and challenges/ barriers encountered by telecoms businesses. The majority of telecom industry executives consider that their organization is in the development phase of implementing artificial intelligence (AI).Due to significant value and potential that AI has to offer to telecom enterprises companies are moving towards AI solutions and use cases. Improved operational efficiency is expected to be the most beneficial factor of AI for telecom companies over next two years.In total, 40% of surveyed industry executives revealed that their company has plans to invest more than US$1 million in AI during 2018-2020. Moreover, the rising popularity of AI applications within the telecom industry is supported by the increasing complexity in networking caused by growing volume of IoT devices, cloud migrations, the increasing number of OTTs and the arrival of 5G.


AI for investors: Potential applications

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In a recent survey of its Asia Pacific clients, fund manager Northern Trust found that artificial intelligence is widely expected to become commonplace within institutional investors by 2020. About 60% of the fund's Australian-based institutional investment clients believe meaningful adoption will occur over the next two years, while Singapore and Hong Kong-based clients anticipate broad adoption in two to five years. AI implementation in the investment community is unavoidable, but what specific applications can we expect for institutional investors? The magazine Institutional Investortries to answer this question by observing the types of technology the largest US asset managers have been investing in. It notes that State Street Global Advisors has been building up its AI infrastructure by investing inmassively parallel processing, a technology through which multiple processors work on different parts of a program, helping it deal with large datasets to forecast company fundamentals and find anomalies in fundamental data.


Shanghai announces AI World 2018 · TechNode

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On the afternoon of July 4th, the AI World 2018 was held in the Press Office of Shanghai municipal government. At the press conference, Wu Qing, Deputy Mayor of Shanghai introduced the conference. AI World 2018 will be held in Shanghai from September 17 to 19 of this year by National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, the National Internet Information Office, the Chinese Academy of Sciences, the Chinese Academy of Engineering and the Shanghai Municipal People's Government with the approval of the State Council under the background of the historic exchange of the new round of scientific and technological revolution and industrial change and the high-quality development demand in China. The conference, with the theme of "New Era of Artificial Intelligence," with the "High-end, Internationalized, Professionalized and Marketable" policy, consists of forum summit, special activities, display applications and innovation competitions, focusing on the combination of "investment in production, learning and research". With the theme of "enlightening intelligence and setting sail for the future," the competition, based on globalization, specialization and high end, aims to encourage artificial intelligence, accelerate the talents, find excellent projects, and expand the international influence of China's artificial intelligence.


Planck Re Announces $12M Series A to Empower Commercial Insurers With AI Driven Insights

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Planck Re announces their first funding round of $12M to empower commercial insurers by generating insights that streamline the commercial underwriting process – enabling insurers to instantly and accurately underwrite any policy. The round was led by Arbor Ventures and includes Viola FinTech and Eight Roads. Founded in 2016, Planck Re is pioneering the commercial insurance data industry, providing an Artificial Intelligence (AI) driven data platform. Leveraging deep industry expertise and breakthrough data science, Planck Re streamlines the commercial underwriting process by aggregating small and medium businesses' digital footprint to help insurers acquire a comprehensive understanding of customer risk. The end result is a frictionless underwriting process with greater insurance carrier visibility into risk factors, leading to improved conversion, retention and reduced loss ratios.