Element AI is Microsoft Ventures’ first investment in a new fund for AI companies focused on inclusive growth and positive impact
MONTREAL–(BUSINESS WIRE)–December 12, 2016–
Element AI, an artificial intelligence incubator, announced today an investment by Microsoft Ventures. With this funding, Element AI will help large corporations, world-class entrepreneurs and researchers solve hard problems with AI.
Element AI is the first company to receive funding from Microsoft Ventures’ newly announced fund for startups that are responsibly harnessing the promise of AI to empower people and business. More details on the new Microsoft Ventures fund can be found here: https://blogs.microsoft.com/?p=130589
Founded by serial entrepreneurs Jean-François Gagné and Nicolas Chapados, along with Yoshua Bengio, a co-father of Deep Learning technology, Element AI launched earlier this year to help organizations implement an “AI-First” strategy, enabling any organization to develop their own artificial intelligence solutions.
“We all know ‘You’re only as good as your tools’ and now Element AI is getting supercharged with Microsoft Ventures,” said Element AI CEO Jean-François Gagné. “Along with a strategic investment that is a real vote of confidence for Element AI, Microsoft is giving us the tools and services which will help our AI network achieve scale, which will undoubtedly create new technologies that help tackle some of the world’s biggest problems.”
“AI holds great promise to augment human capabilities and improve society,” said Nagraj Kashyap, Corporate Vice President, Microsoft Ventures. “Microsoft is committed to democratizing AI with guiding principles to drive positive impact. Element AI shares our approach and philosophy.”
About Element AI
Element AI is a Montreal-based platform that helps organizations embrace an AI-First strategy. Composed of a research lab uniquely connected to the world’s best academic ecosystems, Element AI launches and incubates advanced Artificial Intelligence solutions in partnership with large corporations and research institutions. Co-founded by Jean-François Gagné, Yoshua Bengio, Nicolas Chapados, and Jean-Sébastien Cournoyer, Element AI is headquartered in Montreal, Quebec. http://www.elementai.com
Gregg Delman, 415-935-1804