Week Ending 11.11.18

 

FINANCE INDUSTRY FORCED INTO AI BUT WILL MAINTAIN HUMAN TOUCH
SAP ACQUIRES  QUALTRICS AS IT LAUNCHES IPO
GLOBAL BLOCKCHAIN VENTURES LAUNCHES AI FUND
ICAD CEO RETIRES
AND MORE ↓

 
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EYE ON A.I. GETS READERS UP TO DATE ON THE LATEST FUNDING NEWS AND RELATED ISSUES. SUBSCRIBE FOR THE WEEKLY NEWSLETTER.


OUR LATEST EYE ON A.I. CONTENT

Financial institutions, forced by competitive pressures, are hard at work bringing artificial intelligence (AI) to bear on the industry, but banking will maintain its long-standing human touch even after the issues the technology clearly has are ironed out, financiers say. Read our complete story here.


MERGERS AND ACQUISITIONS

SAP, the Walldorf, Germany-based business software developer, said it acquired Qualtrics International, the US business software developer using AI raising USD 430.5m in an initial public offering on the Nasdaq, for USD 8bn in cash.

Data443 Risk Mitigation, the Raleigh, North Carolina-based data management company owned by LandStar, is acquiring N8 Identity, which uses AI in cybersecurity, for USD 3.2m in cash and stock. LandStar also operates a blockchain-based unit.

NCR, the Atlanta, Georgia-based payments systems developer, said it acquired StopLift Checkout Vision Systems, which has developed AI systems to reduce fraud and theft in the retail industry. Terms weren’t disclosed.

Premier, the Charlotte, North Carolina-based healthcare data and services company, said it is acquiring Stanson Health, which uses AI to support clinical decision making. Terms weren’t disclosed.

Other deals include Inuvo


FILINGS

Wigi Blockchain Technologies, the Tokyo, Japan-based company developing a payments platform, and shareholders refiled for an equity offering of as much as USD 17.83m from the sale of 6.65m shares at USD 0.50 and USD 4.00 each. The shares will trade over the counter in the US. Wigi is incorporated in the state of Oklahoma.

Other filings include TPT Global Tech, Newgioco and Borqs Technologies


FUNDING

Global Blockchain Ventures, the Orlando, Florida-based venture capital firm, said it launched a USD 100m fund focused on AI, blockchain and other technologies.

Curetis, the Holzgerlingen, Germany-based medical diagnostics company using AI, said it raised EUR 8.9m (USD 10.1m) in a downsized private placement of 4.45m shares at EUR 2.00 each, the lowest end of the marketed range. The company said last week it was raising up to EUR 18.46m (USD 21.92m) from the private placement of 7.1m shares at EUR 2.00 to EUR 2.60 each.

Quantela, the San Francisco, California-based urban planning company using AI, said it raised USD 10m from Digital Alpha, the investment firm.

Partnerize, the London, UK-based business services firm using AI, said it raised USD 9m in a funding round led by GP Bullhound, the boutique investment bank focused on technology.

Kebotix, the Cambridge, Massachusetts-based AI and robotics technology company, said it raised USD 5m in a seed round led by One Way Ventures, the Boston venture capital fund focused on companies founded by immigrants. The venture capital fund of China’s Baidu also participated.

Quantexa, the London, UK-based data analytics firm using AI, has raised an unspecified amount from a venture fund run by the consultancy Accenture.

VIQ Solutions, the Toronto, Canada-based security firm using AI, said it is raising up to CAD 15m (USD 11.5m) from a credit facility and up to CAD 6.5m from the sale of convertible five-year debentures to fund potential acquisitions. VIQ captures video and audio feeds for analysis.

VIQ hired Susan Sumner as COO in September. Sumner was vice president of Nuance healthcare ambulatory division.

Aerial Technologies, the Montreal, Canada-based company using AI to track movement with WiFi, said it raised USD 3m in a funding round led by Intel’s venture capital fund.

AEYE-GO, the Hanzhou, China-based company developing automated retail checkout devices, raised an unspecified amount from the venture capital unit of French food services giant Sodexo.

APPx, the Vancouver, Canada-based financial technology incubator, said it plans to raise CAD 1m (USD 758,380) from the sale of shares with warrants.

It shares began trading on the Canadian Securities Exchange earlier this month. Last week the company said it is seeking blockchain acquisitions. APPx is also developing a AR advertising application.

Other deals include MesagePoint, ThreeD Capital here and here, DIAGNOS, Datametrex AI, V5 Systems and Adform


LEGAL & REGULATORY

There were no legal and regulatory developments this week that we tracked.


PEOPLE

iCAD, the Nashua, New Hampshire-based company using AI to detect breast cancer, said Chairman of the Board Michael Klein will act as interim CEO as current CEO Ken Ferry is retiring.

Voci Technologies, the Pittsburg, Pennsylvania-based company using AI to transcribe audio and video recordings, said it hired Michael Coney as COO. Coney was the CEO of Unitrends, the information technology firm.

In August the company arranged a USD 5m credit facility with Square 1 Bank, a division of Pacific Western Bank. Voci was spun out from Carnegie Mellon University.

Shopin, the New York City-based retail marketing company using AI and blockchain, said it hired former Walmart executive Georgi Gospodinov as chief technology officer.

Apttus, the San Mateo, California-based business software developer using AI, said it hired Colleen Carr to head its human resources department. Carr was senior vice president of human resources at Actian, the data management firm, and Blue Coat Systems.

Apttus hired Gregg Hampton as CFO last month from Actian. Apttus was acquired by private equity firm Thoma Bravo in September.

Shift Technology, the Paris, France-based insurance fraud company using AI, said it hired French postal group executive Jérôme Razniewski as chief information security officer. 

Recall Studios, the New York City-based AR/VR company, said it hired Barry Sandrew, who developed the technology to colorize black and white movies, to lead its hunt for acquisitions.

In August the company acquired Evolution AI, the animation company, for USD 200m in stock. The deal also includes a 60% stake in Pulse Evolution, which participated in such movies as The Curious Case on Benjamin Button with Brad Pitt.

Evolution AI is developing animation technology that will enable AI platform users to interact with a lifelike human face.

SMITH, the Seattle, Washington-based retail business services firm, said it hired IBM executive Anatoly Tulchinsky as vice president of analytics and AI.

Other hires include Kalray, STATS and OWKIN

Board appointments include Sparrho

And layoffs hit Moogsoft, the San Francisco, California-based business software developer using AI, according to TechCrunch.


DATA

There were no data sets in the areas we track.


EYE ON A.I. GETS READERS UP TO DATE ON THE LATEST FUNDING NEWS AND RELATED ISSUES. SUBSCRIBE FOR THE WEEKLY NEWSLETTER.