CognitiveScale, an Austin, Texas-based provider of industry-specific machine intelligence software, received an approx. $3.2m strategic investment from Microsoft Ventures.
The deal – part of the Series B round which now totals over $25m – will support the development of new AI-powered product experiences on Microsoft HoloLens and Microsoft Azure for consumers and businesses. CognitiveScale and Microsoft will also partner on go-to-market for sales into enterprise and business networks.
Through the investment by Microsoft Ventures, the company will explore MR applications for cognitive commerce, enabling retail shoppers to engage with a virtual closet or showroom tailored specifically to their needs and preferences, as well as contextual, cognitive insights for workforce productivity and business processes.
Led by Akshay Sabhikhi, CEO, and Matt Sanchez, CTO, CognitiveScale provides CognitiveScale ENGAGE and CognitiveScale AMPLIFY which enable enterprises to improve their customer engagement, decision-making, and self-learning business processes.
The company, which has already deployed its industry cognitive clouds with Global 500 companies in financial services, healthcare, and commerce, has offices in the United Kingdom and India, and strategic partnerships with IBM, Deloitte and Microsoft.