Adeptmind Inc., a Toronto, Canada-based deep learning company that aims to deliver accurate online shopping results, secured an additional seed funding round of undisclosed amount.
Fidelity Investments Canada ULC made the investment which brought total funding to $5.5m to date.
Founded in 2016 by G Wu and Jing He, Adeptmind provides e-commerce companies with a deep learning platform that delivers accurate search results in order to avoid online retail’s “no results found” search problem, bad experiences and high bounce rates, bridge the gap between offline and online conversion rate.
The company intends to use the funds to kick-off the Adeptmind Scholar Fellowship – a scholarship program granting $30k scholarships to 20 university students who are advancing the field of AI, deep learning, natural language processing, and machine learning. So far, scholarships have been awarded to students at New York University (NYU)’s Center for Data Science and The Courant Institute of Mathematical Sciences, with gifts pending internationally in the United Kingdom, Italy, and beyond.