Palo Alto – June 19, 2017 – Cooley advised Data Collective on leading the $102 million Series A funding round for artificial intelligence startup Element AI.
According to Montreal-based Element AI, the funding will accelerate its capabilities and invest in large-scale AI projects internationally, solidifying Element AI’s position as the largest global AI company in Canada and creating 250 jobs in the tech sector by January 2018.
“Artificial Intelligence is a must-have capability for global companies,” said Element AI CEO Jean-François Gagné in a news release. “This historic round will help Element AI deliver profoundly powerful AI platforms for all, not just the few.”
Element AI delivers groundbreaking artificial intelligence solutions to enterprise companies, bringing together the best AI experts and top entrepreneurs to produce next generation AI capabilities for any organization. In addition to Data Collective, it was funded by leading investors including BDC Capital, Fidelity Investments Canada, Hanwha Investment, Intel Capital, Microsoft Ventures, National Bank, NVIDIA GPU Ventures, Real Ventures, Tencent and some of the world’s largest sovereign wealth funds.
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