Element AI raises $137.5 mln in DCVC-led Series A financing

Montréal artificial intelligence solutions company Element AI has raised about $137.5 million (US$102 million) in a Series A financing. The round, which Element AI said is the largest on record for an AI startup, was led by DCVC and joined by Real Ventures, BDC Capital, Fidelity Investments Canada, Hanwha Investment, Intel Capital, Microsoft Ventures, National Bank of Canada, NVIDIA, Tencent and several unidentified sovereign wealth funds. Founded last October, Element AI creates and incubates AI solutions in partnership with corporations and research institutions. It will use the funds raised to accelerate its capabilities and invest in AI projects internationally.

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