December 1, 2019
Stradigi AI Inc. (Stradigi), a Montreal-based artificial intelligence company, announced last month that it has raised C$53M financed from a group of investors primarily made up of Quebec institutions and U.S. rap star will.i.am, the front man for the music group “The Black Eyed Peas”.
About 80% of the funds raised came from Quebec sources. Slightly more than half of the financing came from Fonds de solidarite FTQ and Quebec’s provincial financing agency, Investissement Quebec. Other investors included the Holdun Family Office, Montreal-based technology entrepreneur Lester Fernandes, Cossette Inc., and will.i.am, whose involvement with Stradigi was announced earlier this year.
Stradigi was founded in 2005 as a software development service provider, and shifted its business towards artificial intelligence in 2014. Since that time, Stradigi has worked with prospective customers on proof of concept engagements and integrated artificial intelligence solutions into its clients’ operations.
In May, will.i.am agreed to become Stradigi’s adviser on ethics and bias in artificial intelligence, stating that he was “really intrigued” by Stradigi’s platform and the company’s commitment to empower individuals using artificial intelligence. The artist, who has also invested in Pinterest, Twitter and Tesla, said that he and the company “have the same moral compass”.
Author: Duncan Lurie