Noble.AI, a SF / French AI company that claims to accelerate research and development decision-making, has launched a new round of financing from Solvay Ventures, the VC arm of a major chemical company, Solvay SA. Although the round was not known, TechCrunch understands it is a second seed round, and we know that the company has so far closed a total of $ 8.6 million.
Solvay was previously an early client of the platform before this investment was made. The joint announcement took place at the Hello Tomorrow conference in Paris this week.
As a chemical company, Solvay's research arm generates huge amounts of data from multiple sources, which is the reason for the investment, the company confirmed. Noble.AI's Universal Ingestion Engine and Noble.AI's Intelligent Recommendation Engine claim to enable the creation of high-quality data for this type of large amount of data that can later become recommendations for decision-making in these large companies.
The founder and CEO of Noble.AI, dr. Matthew C. Levy said he was thrilled to see what emerged in his next phase by addressing the most important and valuable issues in chemistry. "Partnering with Solvay."
"Noble.AI has the potential to be a true game changer for Solvay, as it allows us to leverage data from our 1
Prime Movers staged a seed round at Noble.AI in late 2018 that had never been previously disclosed to the press Ventures is now leading this second seed round.
The move is linked to the booming R & D spending of companies that reached $ 782 billion in R & D in 2018 among the top 1,000 companies However, corporate development is lagging behind the startup world, and these strategic investments seem to be gaining momentum.