March 8, 2018

Big funding: There’s always money in algorithms

Whether you use algorithms to simulate reality, or create an entirely new one, chances are people want to throw money at you. Here are the latest companies reaping the VC rewards of AI and AR.  Kensho’s $550m price tag is the largest AI deal in history S&P Global just coughed up over half a billion […]

Whether you use algorithms to simulate reality, or create an entirely new one, chances are people want to throw money at you. Here are the latest companies reaping the VC rewards of AI and AR. 

Kensho’s $550m price tag is the largest AI deal in history

S&P Global just coughed up over half a billion in cash and stock for Kensho, a startup that uses machine learning to do complex analysis for traders and financial institutions.

As algorithms continue to replace human traders on Wall Street, S&P is gettin’ in while the gettin’s good.

Drugs n’ bugs: Atomwise raises $45m

Atomwise, a startup that uses AI to make the drug discovery process more efficient, just raised a $45m Series A led by Data Collective, B Capital, and the Prince of Pesticides themselves… Monsanto.

What’s the connection here? Atomwise’s tech analyzes molecules to predict how they’ll work in your body — but they can also use it to predict how they’ll work on plants. 

That means big pharma and big agro are both looking for a piece of Atomwise’s tech.

Magic Leap raises $461m from an unlikely backer… 

Magic Leap, creator of highly funded “augmented reality” tech that doesn’t quite exist yet, has raised more than $2.3B to date, and they’re not showing any signs of stopping… or a viable consumer product.

But, that hasn’t deterred Saudi Arabia’s sovereign investment from getting in the mix with a $461m contribution, bringing Magic Leap’s Series D round to a total $963m.

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