Friday, 18 February, 2022

Fintech AI Tech News and Insights – February 2022

Artificial Intelligence is one of the most important technologies of this century.

Every day there is a lot of investment in AI and technology companies worldwide. To be ahead of the curve, I spend a lot of time analysing, filtering and distilling the latest insights for all my clients.

Here are just a few interesting Fintech, funding and investment news in AI, ML, Big data, analytics, and business that caught my eye this month. Please feel free to share with others.

AI and tech company funding news – February 2022

Qventus $50m million (Series A) – AI healthcare operations

  • What do they do: AI-powered healthcare operations platform
  • AI and technology: AI-powered prediction healthcare platform for managing operations and patient flow
  • Thoughts and insights: Healthcare has become incredibly advanced. Qventus has produced an advanced healthcare platform. One of the most powerful aspects of having a platform is control. Once clients are on the forum, they tend to stay with a platform for some time. It will be good to see where Qventus develop the system, moving more into all aspects of healthcare.
  • Read more: Click here

Aporia $25m million (Series A) – AI monitoring and observability platform

  • What do they do: Platform for allowing the monitoring of ML models
  • AI and technology: ML/AI monitoring platform
  • Thoughts and insights: ML/AI development is a continual monitoring and improvement process. Having platforms that use AI to help monitor, spot and suggest improvements. This can save a lot of time, money and resources. It will be good if they can use AI to monitor trends in AI approaches worldwide and help suggest improvements.
  • Read more: Click here

Anecdotes $25m million (Series A) – Compliance platform

  • What they do: Compliance platform for every aspect of a business.
  • AI and technology: Use AI and technology stack to monitor compliance issues continuously
  • Thoughts and insights: As industries mature, compliance increases. These can be incredibly complex to monitor continuously. Anecdotes do this well. It will be interesting to see if they use other forms of ML/AI to predict compliance and help companies foresee and reduce any potential issues.
  • Read more: Click here

Neosapience $21.5m million (Series B) – Synthetic AI voice technology

  • What do they do: Neosapience creates AI-powered voice and video technology for various media
  • AI and technology: AI voice actors for all industries
  • Thoughts and insights: Neosapience already has over 1m users with a growth of 18% per month. The key to their success is the human realism of emotions. Synthetic content is set to rise in the next few years. When combined with AI, the accuracy will be astonishing. Recent studies show that many people don’t mind interacting with avatars, which will only increase over time.
  • Read more: Click here

Leko Labs raises $21m million (Series A) – Sustainable construction materials.

  • What do they do: Produce sustainable construction materials
  • AI and technology: Developed AI construction software to automate and optimise the building process
  • Thoughts and insights: Sustainable goals are being set for every industry. To address these needs, new materials and technology and techniques are needed. All this can generate a lot of data and variables to manage. Leko is using AI for smarter ecological decisions.
  • Read more: Click here

Automata raise $50m million (Series B) – Automation solution for labs.

  • What do they do: Produce automated products for labs
  • AI and technology: They produce robotic arms and processes for automation in the lab.
  • Thoughts and insights: Laboratories are essential as they perform many tests. A lot of the work is repetitive. Automata take the hard work out of this. They are primarily looking at diagnostics, drug discovery and synthetic biology. They have built a new data stack called Automata labs, where they will process many results. I envision they will do more ML/AI development to entirely automate from end to end.
  • Read more: Click here

Instrumental receives $50 Million – Manufacturing process inspection.

  • What do they do: Instrumental help reduce manufacturing inefficiencies
  • AI and technology: AI inspection, modern data analysis, Machine vision
  • Thoughts and insights: In manufacturing, it is said that 20% of the dollar is wasted on  Instrumental was setup up by two ex-apple mechanical engineers who have worked on Ipods and Apple watches and are familiar with manufacturing quality. Central to their business is manufacturing optimisation software that crunches data from sensors, tests, inspection cameras and data streams. Artificial Intelligence is used for issues discovery and failure analysis.
  • Read more: Click here

Voila receives $6 Million – AI-powered storefronts for online creators.

  • What do they do: Voila
  • AI and technology: Voila are an AI-powered e-commerce/social commerce technology
  • Thoughts and insights: Viola has over 15,000 creators signed up with over a 3.2million visitors. Ke Shang, an ex-Google engineer, created AI technology that allowed users to find products based on the product in a photo. Central to the platform is that it embraces social media for easy sharing and access. One to watch and one that will be a competitor to Shopify. With Ke Shang’s background, it will be good to see what data-driven ML tools will be created.
  • Read more: Click here

Veho receives $170 Million – Logistics.

  • What do they do: Veho are a technology-driven personalised next-day delivery logistics
  • AI and technology:
  • Thoughts and insights: Since raising seed funding in 2020, Veho has gone from strength to strength. Veho is the brainchild of Itamar Zur, who, as a business student, got fed up with poor deliveries. He has since developed an end-to-end platform powered by AI, warehousing and logistics technology. One key to its success is that it works with its customers to help bring economic benefits. Some have seen a 40% increase in Customer Lifetime Value (CLV). It will be interesting to see how they compete with Amazon, which has 50% of the critical last-mile delivery market.
  • Read more: Click here

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