Canadian AI Co. Scores $151M In Series B Financing

Law360 (September 13, 2019, 1:57 PM EDT) -- Element AI said Friday it raised CA$200 million ($150.7 million) in a Series B fundraising round led by institutional investor Caisse de dépôt et placement du Québec, bringing the Montreal-based artificial intelligence company’s total funding to CA$340 million.

Element AI, an AI software developer founded in 2016, said in its statement that the funding round brought in new investors, including management consulting firm McKinsey & Co. and the provincial government of Quebec.

Existing investors, including venture capital fund Data Collective; Hanwha Asset Management, the investment arm of Business Development Bank of Canada; and venture capital firm Real Ventures also participated in...

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