Shopic AI smart carts secure further £7.2m in funding

Supermarket shelves

Retail AI solutions provider Shopic has raised an additional $10 million (£7.2m) of funding, bringing its total amount raised to $21 million.

Shopic's goal is to transform in-store shopping through its AI-powered clip-on device for shopping carts. The device recognises when shoppers add or remove items to their cart and allows them to pay without the need for a cashier or self-checkout machine.

Seemingly the next step in the nullification of supermarket employees,...

State of European Tech: Investment in ‘deep tech’ like AI drops 13%

The latest State of European Tech report highlights that investment in “deep tech” like AI has dropped 13 percent this year.

Data from Dealroom was used for the State of European Tech report. Dealroom defines deep tech as 16 fields: Artificial Intelligence, Machine Learning, Big Data, Augmented Reality, Virtual Reality, Drones, Autonomous Driving, Blockchain, Nanotech, Robotics, Internet of Things, 3D Technology, Computer Vision, Connected Devices, Sensors Technology, and...

The White House is set to boost AI funding by 30 percent

A budget proposal from the White House would boost funding for AI by around 30 percent as the US aims to retain its technological supremacy.

Countries around the world are vastly increasing their budgets for AI, and with good reason. Just look at Gartner’s Hype Cycle released yesterday to see how important the technology is expected to be over the next decade.

Russian president Vladimir Putin famously said back in 2017 that the nation which leads in AI “will become...

FiveAI raises £32 million to commercialise its autonomous driving technology

UK-based self-driving car startup FiveAI has raised £32 million ($41m) in venture capital as it looks to turn the autonomous driving research it has conducted into commercial products and services.

The startup has also developed a cloud-based platform in order to manage some of the challenges that could not be addressed within the car.

According to FiveAI, the latest round of funding will be used to turn these cloud and in-car systems into products. The aim is to...

Altoida raises $6.3 million in series A funding round to further AI-enabled healthcare goals

Georgia-based healthcare firm Altoida Inc has raised $6.3 million (£5m) in a series A funding round conducted by German pharmaceutical company Merck KGaA-owned capital venture firm M Ventures, with participation from Grey Sky Venture Partners, VI Partners AG, Alpana Ventures, and FYRFLY Venture Partners.

Altoida, which is led by a team of esteemed neuroscientists, physicians and computer scientists, utilises digital biomarkers to drive better clinical outcomes for brain disease....

Tencent is bullish on British AI startup Prowler.io

Chinese technology giant Tencent has led a $100m (£78.4m) funding round for promising British AI startup Prowler.io.

Dr Ling Ge, Chief European Representative at Tencent, said:

“The UK is a global leader in AI and is increasingly becoming a focus for companies looking to invest in the sector. PROWLER.io’s data-efficient approach and focus on human-machine teaming really set it apart.

We are looking forward to PROWLER.io applying its AI decision platform to...

SAS makes $1 billion investment in AI to focus on R&D innovation

Software giant SAS is making an investment of $1 billion in artificial intelligence (AI) in the coming three years through software innovation, education, and expert services.

The latest investment builds on SAS’ already solid focus in AI which includes advanced analytics, deep learning, machine learning, natural language processing, and computer vision.

The move will focus on three main areas: research and development innovation, where SAS is building on the success...

Facebook pumps $7.5m into an independent AI ethics centre

An independent AI ethics research centre is set to receive $7.5 million of funding courtesy of the folks at Facebook.

The new research centre is called the Institute for Ethics in Artificial Intelligence and was created in collaboration with the Technical University of Munich (TUM).

Facebook, like many companies, is fighting outside concerns about the development of AI and its potential societal impact. The centre should help to ensure Facebook keeps up with ethical best...

Qualcomm is setting aside $100 million for AI venture investments

AI is going to be incredibly valuable. You know it, I know it, and Qualcomm is betting on it by setting aside $100 million to invest in promising startups. The chip giant is specifically looking at startups building on-device AI technologies. We’re increasingly seeing NPUs (Neural Processing Units) debuting in the latest devices, so it’s little surprise to see Qualcomm seeking to fund technologies which may provide an edge. Steve Mollenkopf, CEO of Qualcomm Incorporated, said:

New funding for AI startups in devices, energy and healthcare unveiled

Plenty of funding is currently swirling around in the field of artificial intelligence across various sectors; take the £84 million announced earlier this month by the UK government around AI, robotics research and smart energy innovation, as well as $2 billion committed by DARPA. Three of the latest funding round announcements showcase a wide range of solutions, from energy to healthcare. US-based AI semiconductor manufacturer Syntiant raised $25 million (£19.5m) in its latest series B...