May 30, 2022
Five Canadian Artificial Intelligence (“AI”) companies have been named to CB Insights’ sixth annual AI 100 List, which highlights the “100 most promising private AI companies in the world”. This year, the list represents 10 different counties around the world, including 73 companies headquartered in the United States, 8 in the United Kingdom, followed by 5 in Canada.
All five companies are new additions to the list, and include Cohere, TrojAI, Untether AI, Waabi, and Private AI:
Cohere, based in Toronto, helps companies used Natural Language Processing in their businesses, without the need for AI expertise or the supercomputing infrastructure.
TrojAI, the only New Brunswick-based company, works to develop solutions to protect AI from attacks.
Untether AI creates AI chips that can be used broadly, including in banking in financial services, natural language processing, autonomous vehicles, and retail purposes.
Waabi is an autonomous vehicle company founded by Raquel Urtasun, a computer science professor at University of Toronto, co-founder of the Vector Institute, and formerly the Chief Scientist and Head of R&D at Uber.
Toronto-based Private AI develops machine learning and natural language processing tools aimed at preserving privacy by redacting sensitive text information.
"This is the sixth year that CB Insights has recognized the most promising private artificial intelligence companies with the AI 100. This year's cohort spans 13 industries, working on everything from recycling plastic waste to improving hearing aids," said Brian Lee, SVP of CB Insights’ Intelligence Unit. "Last year's AI 100 companies had a remarkable run, raising more than $6 billion, including 20 mega-rounds worth more than $100 million each. We’re excited to watch the companies on this year’s list continue to grow and create products and services that meaningfully impact the world around them.”
CB Insights selected these companies out of over 7,000 companies worldwide, based on several factors, including R&D activity, market potential, tech novelty, among others. The 2022 cohort of companies has raised over $12 billion from over 650 investors since 2017.
By: Farrah Kudus
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