Maluuba, a Waterloo, Ontario, Canada-based machine-learning company, raised C$9m ($6.2m) in Series A funding.
Backers included Emerillon Capital, Nautilus Ventures and undisclosed strategic investors. In conjunction with the funding, Brian Kang, managing director of Nautilus, and Ludovic Andre, managing director of Emerillon, joined Maluuba’s board. In conjunction with the round, Brian Kang, managing director of Nautilus Venture Partners, and Ludovic Andre, managing director of Emerillon Capital, joined as board members. Dave Grannan, previously vice president at Nuance Communications, president & CEO at Vlingo, and currently co-founder & CEO of Light, became the chairman of the board.
The company, which has now raised C$12m ($8.3m) in total funding to date, intends to use the capital to further enhance its deep learning research and development, and expand its product in the automotive and IoT sectors.
Led by Sam Pasupalak, co-founder & CEO, Maluuba is a deep-learning company that allows machines to think, reason and communicate with human-like intelligence. It currently enables interactive natural language and conversational dialogue experiences in over 50 million smart devices globally including IoT, mobile phones and smart TVs. Supporting more than 10 languages, Maluuba provides its technology for several industry OEMs including LG.
FinSMEs
20/01/2016