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8 December 2014

Sentient gets smarter with $103.5m

MIT’s Sentient Technologies, which is developing artificial intelligence on a large scale, has emerged from stealth with a Tata and Access-backed round that boosted its funding to $143m.

Author: Gregg Bayes-Brown, editor

US-based artificial intelligence (AI) technology developer Sentient Technologies, a spin-out of Massachusetts Institute of Technology, has secured $103.5m in a series C round co-led by US-based conglomerate Access Industries and Tata Communications, a subsidiary of India-based conglomerate Tata.

The round also featured Horizons Ventures, the venture capital firm that led Sentient’s $38m series B round, and a group of undisclosed private investors. It brought the company’s total funding to $143m.

Founded in 2007, Sentient is deploying its technology on a large scale in an attempt to create the world’s most powerful AI system. Operating in stealth until now, the company has been testing its system in financial trading and medical research.

The funding will support an expansion of Sentient’s distributed artificial intelligence products.

Vinod Kumar, CEO of Tata Communications, said: "As an investor, we share a common vision on the transformative force that massively distributed computing and artificial intelligence can play in helping businesses get insights and solve their most complex big data problems.

“We see Sentient at the forefront of these technologies and bringing a disruptive approach to cloud based computing services. Furthermore, the scale of our leading global network infrastructure and data centre footprint also complements Sentient’s growth plans and will enable its global deployment.”

 

Editor’s note: a version of this article first appeared on our sister site, Global Corporate Venturing.

Copyright Mawsonia Limited 2010. Please don´t cut articles from www.globaluniversityventuring.com or the PDF and redistribute by email or post to the web without written permission.

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