AI raised funds from Solvay Ventures in a second seed funding round.
The firm has raised $8.6 Million funds till now.
AI will assist Solvay in utilizing its 150 years old data with its AI tools.
Big data AI startup Noble.AI raised funds in a second seed funding round from Solvay Ventures a venture capital arm of a huge chemical company Solvay SA. The funds raised in the round are not disclosed officially by the firm but the company has closed a total amount of $8.6 Million till now. Prior to investing in Noble.AI Solvay was the customer of it. The joint announcement was made at the Hello Tomorrow conference in Paris this week. Noble.AI was founded by Dr. Matthew C. Levy and it assists in accelerating decision making in Research and Department.
According to Solvay the reason for investing in Noble.AI is because it is a chemical company and its research arm assembles a huge volume of data from various sources and Noble.AI’s “Universal Ingestion Engine” and “Intelligent Recommendation Engine” affirm to enable the generation of high-quality data assets for these big data sets that can later be transformed into recommendations for decision making inside these large businesses. CEO of Noble.AI is excited to look what unfolds in its next phase, gearing the crucial and high-value problems in chemistry” via the partnership with Solvay.
According to Stephane Roussel, Managing Director of Solvay Ventures, Noble.AI has complete capability to become a game changer for Solvay by assisting us in utilizing our 150 years old data with its AI tools and guide us to bring a new revolution in the market.
Noble.AI is a software company dedicated to building tools that accelerate discovery in R&D. The firm was founded in 2017 by Eric Wang and Matthew Levy. San Francisco headquartered Noble.AI seed funding round was led by prime movers and recent second seed fund round is raised by Solvay Ventures. It offers Universal Ingesting Engine, Data compression engine and Intelligent Recommendation Engine all working on AI.
Solvay Ventures a venture capital fund of Solvay is a global firm dedicated to innovative and sustainable chemistry. The fund executes $80 Million fund and it invests in energy transition, sustainable resources, digital age and increased well being.
R&D sector in top 1000 companies in 2018 has raised $782 Billion and it is expanding widely, therefore, investors are taking great interest in fueling startups focused on the R&D sector.
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