Portuguese VC Faber has hit the first close of its Faber Tech II fund at €20.5 million ($24.3 million). The fund will focus on early-stage data-driven startups starting from Southern Europe and the Iberian peninsula, with the aim of reaching a final close of €30 million in the coming months. The fund is backed by European Investment Fund (EIF) and the local Financial Development Institution (IFD), with a joint commitment of €15 million (backed by the Investment Plan for Europe – the Juncker Plan and through the Portugal Tech program), alongside other private institutional and individual investors. Alexandre Barbosa, Faber's Managing Partner, said "The success of the first close of our new fund allows us to foresee a growth in the demand for this type of investment, as we believe digital transformation through Intelligence Artificial, Machine Learning and data science are increasingly relevant for companies and their businesses, and we think Southern Europe will be the launchpad of a growing number." Faber has already'warehoused' three initial investments.
"The pace of progress in artificial intelligence (I'm not referring to narrow AI) is incredibly fast. Unless you have direct exposure to groups like Deepmind, you have no idea how fast--it is growing at a pace close to exponential. The risk of something seriously dangerous happening is in the five-year time frame.
Inc.'s venture-capital fund invested in DefinedCrowd Corp., it gained access to the technology startup's finances and other confidential information. Nearly four years later, in April, Amazon's cloud-computing unit launched an artificial-intelligence product that does almost exactly what DefinedCrowd does, said DefinedCrowd founder and Chief Executive Daniela Braga.
DefinedCrowd, which provides data to support the development of artificial intelligence (AI) products, has raised $50.5m in a Series B round of funding. As a result the firm aims to expand its existing solutions, launch new offerings, double its headcount, and open more R&D offices around the world. DefinedCrowd's founder and CEO Daniela Braga (pictured) comments: 'Closing this Series B funding round is an incredible validation of what we have achieved in just four-and-a-half years. Existing customers continue to demand more DefinedCrowd training data, while new clients are attracted by our growing reputation for high quality, fast delivery and data privacy. With this funding, we'll be able to continue with our plan for triple-digit expansion in 2020, allowing us to serve our clients even better'.
Earlier this year, San Francisco-based venture capital firm Riverwood Capital invested US$ 20 million in Omie, a Brazilian start-up that provides small and medium businesses (SMBs) with an AI-powered business management software. Omie's genius idea was to focus on small firms, not served by larger management software services. By automating business functions, the company essentially eliminates the massive amount of paper work required in Brazil, a country notorious for red tape. "Cloud management platforms are revolutionising small and medium businesses in Brazil," says Marcelo Lombardo, Omie's CEO and founder. He spoke with LSE Business Review managing editor Helena Vieira on 5 November during the Web Summit conference in Lisbon. Starting from the beginning, what does Omie do? Omie is a cloud management software for small and midsize businesses. We put together pretty much everything a small business owner needs for his daily life (financials, invoicing, inventory, manufacturing, etc).
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AI/ML Job: NLP Researcher NLP Researcher at Casafari Lisbon, Portugal (Posted Aug 9 2018) About the company Casafari tracks the entire real estate market by aggregating and matching propeties from over 2000 different sources. We provide both investors and real estate professionals with clean, hyper-local data in real time. Our clients identify the best investment opportunities. Agents close deals 10 times faster. Our clients see our meta search as Trivago for real estate, and the largest, cleanest artificial MLS in Europe.