Element AI, a Montreal, Canada-based artificial intelligence company, raised $US102M in Series A funding.
The round was led by Data Collective (DCVC) with participation from Real Ventures, Development Bank of Canada (BDC), Fidelity Investments Canada, Hanwha Investment, Intel Capital, Microsoft Ventures, National Bank of Canada, NVIDIA, Tencent, and large sovereign wealth funds.
The company intends to use the funds to create new jobs, accelerate its capabilities and invest in large-scale AI projects internationally.
Led by CEO Jean-François Gagné, Element AI delivers artificial intelligence solutions to enterprise companies, in cybersecurity, fintech, manufacturing, logistics and transportation, and robotics.
The company was co-founded by serial entrepreneurs Jean-François Gagné and Nicolas Chapados, Real Ventures, and Yoshua Bengio, a co-father of deep learning technology.