Inovia, a Swedish big data and AI solutions provider, raised SEK150m (approx. €14.25m) in funding.
Verdane Capital made the investment via Verdane Edda.
The company intends to use the funds to accelerate the development and commercialization of AI products and solutions and expand to other Nordic countries.
Founded in 2012 by Andreas Rosenqvist, Marcus Ekendahl and Håkan Schön, Inovia is an Artificial Intelligence (AI) consulting and solutions provider. The company offers an Enterprise AI platform, enabling companies to explore the applications of AI in their own IT landscape, and has developed a set of AI tools and frameworks, for example an AI based virtual assistants (AIVA) and a Voice to Text application for Swedish.
Inovia has 50 employees and expects revenues of nearly SEK 90 million in 2018.