CognitiveScale, an Austin-based startup specializing in artificial intelligence and machine learning, announced Tuesday it has closed on $25 million in funding including a strategic investment from Microsoft Ventures.
The Austin-based startup, founded in 2013, reports the Microsoft investment will help the company develop applications based on Microsoft HoloLens and Microsoft Azure for consumers and businesses.
Other investors include Norwest Venture Partners, Intel Capital and IBM. The company previously reported in August it had received $21.8 million in Series B funding.
“We are entering a new era of immersive computing in which the world is our browser and we are the cursor,” Akshay Sabhikhi, CEO of CognitiveScale said in a news release. “Our goal is to embed cognitive systems of intelligence into a whole range of new personal computing applications and business processes, from customer engagement, to procurement and regulatory compliance, using hyper-personalized holographic projections and mixed reality (MR).”
The Microsoft investment will allow CognitiveScale to develop MR applications for shopping, workforce productivity and business processes.
“CognitiveScale products can be deployed on hybrid cloud environments to meet the requirements of our customers, including the ability to bring their own data lake and allow our Cognitive Cloud technology to securely access sensitive data. We are seeing more requirements to use Microsoft Azure due to its scalability, rich set of tools, cost effectiveness, and flexibility for customers to control access to their sensitive data sources,” Matt Sanchez, Founder and CTO of CognitiveScale said in a news release.
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