Venture Capital & AI in the press
2019 — Week #6
Legal AI software firm Luminance raises £8m in Series B funding from investors
Twitter: LuminanceTech
Legal artificial intelligence business #Luminance has raised $10 million (£7.7 million) in Series B funding, raising its total valuation to $100 million, says the company. Backers include #InvokeCapital, #TalisCapital and magic-circle law firm Slaughter and May.Luminance helps lawyers speed-read legal documents, employing pattern recognition and #AI algorithms to spot differences and anomalies in lengthy and often turgid papers.#LegalAI
Source/Read more: GrowthBusinessCoUK 08/02/19
Apax Buys $200 Million Stake in Fractal Analytics
Twitter: Fractalites
#ApaxPartners has bought a significant minority stake in artificial-intelligence technology company #FractalAnalytics for $200 million. A person familiar with the deal said the transaction valued Fractal at $500 million. The London private-equity firm injected fresh capital in Fractal Analytics, and also bought stakes from investors including U.S. firm #TAAssociates and Khazanah Nasional Bhd., a Malaysian government investment fund, according to a statement released by Fractal Analytics.
Source/Read more: Private Equity News
How SoftBank’s Vision Fund Is Powering AI and Analytics Indian Startups
Apart from investing in companies such as #Paytm and #PolicyBazaar, it has invested in AI-based startups in #India, such as #Engineer.ai, which raised $29.5 million in series A funding led by Softbank’s #DeepCore, which is a fund especially focused on AI.
More than a year ago, SoftBank said that it would invest $10 billion in India, and since then, it has invested heavily in Indian deep tech startups. Many startups believe that the kind of capital that the Japanese group brings makes it tough for other investors to match, which makes it more popular than other investors. The money power it brings has a significant impact on startups, making it a hot favourite of startups.
Source/Read more: Analytics India Mag 08/02/19
