DarwinAI emerges from stealth with $3 mln in seed financing

DarwinAI, a Waterloo-based artificial intelligence (AI) company, has emerged from stealth and closed a $3 million seed-stage financing. The round was led by U.S. venture capital firm Obvious Ventures and Canadian firm iNovia Capital. They were joined by angel investors from Creative Destruction Lab. Founded last year by University of Waterloo alumni, including Chief Scientist Alexander Wong and CEO Sheldon Fernandez, co-founder of Infusion, DarwinAI's platform uses AI to reduce the complexity in designing and building deep neural networks for real-world applications. DarwinAI said it will use the funds raised to bring its technology to market.

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